Bear, Stearns Plans Global Forex Expansion London, Far East Desks, 24-Hours In N.Y.

NON-BANKS

Bear, Stearns & Co., following in the footsteps of its rivals, is planning to rev up its foreign exchange trading operations. David Schoenthal, who was recently brought on board to head the operation from Shearson Lehman Brothers in New York (FX Week, June 5), confirmed reports, which have been widely circulating in the market, that the investment bank, which currently has a modest presence in New York, is planning to triple the size of its staff here, take the desk 24-hours and open desks i

To continue reading...