April 24, 2008 / 3:39 AM / 11 years ago

CORRECTED - JPMorgan names senior Bear execs to top posts

(Corrects April 23 story to say that Steven Meyer will be deputy head of global cash equities and the prime services division, not head of the division; add paragraphs about Richard Berliand, who will be head of that division.)

NEW YORK, April 23 (Reuters) - JPMorgan Chase & Co (JPM.N) on Wednesday said it named a number of senior Bear Stearns BSC.N executives to high-level posts in its equities division as it moves to integrate the troubled investment bank it agreed to buy last month.

The New York-based bank named Bruce Lisman, former co-head of equities at Bear Stearns, to be chairman of global equities, according to an internal memo sent to employees by Carlos Hernandez, JPMorgan’s global head of equities.

Richard Berliand, who was already head of global cash equities and futures and options at JPMorgan, will continue in that role and also becomes head of the combined JPMorgan-Bear Stearns prime services division, which largely serves hedge funds, the memo said.

Steven Meyer, former co-head of equities at Bear Stearns, will be the deputy head of global cash equities and the prime services division, reporting to Berliand.

JPMorgan spokesman Brian Marchiony confirmed the contents of the memo.

JPMorgan executive David Herzberg will continue to head the global equity derivatives business, with the added role of overseeing its retail structured products division.

Michael Minikes will remain CEO of Bear Stearns Securities Corp, a legal entity that will operate under JPMorgan Securities. Lewis Lebedin, who ran the Bear Stearns prime brokerage division, will continue to head that division, reporting to Berliand, the bank said in the memo.

It also said Andrea Angelone, a JPMorgan executive, will head the global derivatives financing business, reporting to Herzberg. Deepak Gulati, also of JPMorgan, will head the global equity proprietary trading business, while Nick Andrews, also of JPMorgan, will head the bank’s equities division in Asia.

Emily Portney will be the division’s chief financial officer, it said in the memo.

The new appointments comprise the second tier of appointments for JPMorgan’s investment banking and trading division since it agreed to take over Bear Stearns in March at a rock-bottom price of $10 a share.

The investment banking division is headed by JPMorgan executives Steve Black and Bill Winters. (Reporting by Dane Hamilton) (Reuters messaging: dane.hamilton.reuters.com@reuters.net. 646 223 6161)

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