Bear investment banking exec joins BofA: report

NEW YORK (Reuters) - David Glaser, a confidant former Bear Stearns chief executive Alan Schwartz, has joined Bank of America, the New York Times reported on Monday, the latest executive to turn away from JPMorgan as it tries to keep top Bear talent from bailing on the merged bank.

Glaser was co-head of investment banking at Bear Stearns & Co. He will become chairman of Bank of America's (BAC.N) global mergers and acquisitions practice, the Times reported.

Glaser spent 23 years at Bear, the Times said, adding that the number of Bear bankers at Bank of America shows it is beefing up its own investment banking franchise.

JPMorgan & Chase Co (JPM.N) Chief Executive Jamie Dimon has been trying hard to keep top talent from jumping ship, but has not necessarily offered jobs to all of the top executives popping up elsewhere on Wall Street, the Times said.

Last week, subprime mortgage company Accredited Home Lenders (AHHAP.PK) named Jeff Walton, previously Bear's head of mortgage origination lending, as its chief executive.

Accredited Home's parent, private equity firm Lone Star Funds, last month bought "certain operating assets" of the business Walton used to head up, Bear Stearns Residential Mortgage Corp.

Bear Stearns was forced in March to ask JPMorgan to acquire it at the rock-bottom price of $10 a share.

(Reporting by Christopher Kaufman)