Marin Goes On High-Yield Diet

Bear changed jockey’s in their Asset Management division, replacing Rich Marin with Jeffrey B. Lane.  They moved faster than I thought they would.  Marin was only there four years, an outsider in a firm that is populated with home grown talent at the senior level.  He is now a “senior adviser” to Jeffrey B. Lane, who is a well known quantity on the Street. It might only be an interim move, however, given Lane’s age.  He is a youngster only compared to Cayne and Greenberg.

Maybe the top brass are not as tone deaf as people assumed.  But they are rich, and getting thinner.

The pounds continue to come off Marin, as stress takes a toll.  Although his goose was likely cooked by the time we wrote about his blog, nearly a week before the Times picked it up. I hope the entire episode was good for someone at the Gray Lady because it did not treat Mr. Marin very well.

Nor was the episode good for the PCS division at Bear. A rich payout does not always result in happy brokers. 

Rear View Mirror: Week of the Bear
1440 Wall Street

Bear Stearns Hires Lane as Chairman and CEO of Asset Management Division
Marketwatch

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