George-Eghdami, previously the head of Hybrid Capital Trading, is based in New York and will report jointly to Michael Minikes, CEO of J.P. Morgan Clearing Corp. within Prime Services, and Sandie O'Connor, global head of Financing and Markets Products within Treasury & Securities Services.
The Bear Stearns Companies Inc. announced that Michael Minikes has been named chief executive officer of Bear, Stearns Securities Corp. (BSSC) and that Robert Upton will assume the title of treasurer of The Bear Stearns Companies Inc.
The global clearing operations of Bear Stearns are conducted primarily through BSSC and, as the CEO of that entity, Mr. Minikes will oversee these operations as well as serve the firm's prime brokerage and correspondent clearing clients.Mr. Minikes was instrumental in both establishing Bear Stearns' prime brokerage business in the early 1980's and in forming BSSC in 1991.
Alan D. Schwartz, president and chief executive officer of The Bear Stearns Companies Inc., said, "Mike has played a tremendous role in making Bear Stearns' clearing business one of the finest in the industry.
George-Eghdami will report to Michael Minikes, the chief executive of J.P. Morgan Clearing Corp. within prime services, and Sandie O'Connor, the global head of financing and markets products within the treasury and securities services unit.
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