Bear Stearns this week has recruited former executives from Morgan Stanley, UBS and Banc of America Securities to expand its prime brokerage sales desk.
The firm hired Douglas Stern, a former relationship manager at Morgan Stanleys prime brokerage arm, as a senior managing director. The firm also hired Joseph Aurilio as a managing director and Ted Post as an associate director.
Aurilio was previously a technology and electronic trading specialist at UBS. Post sold prime brokerage and equity derivative products for Banc of America.
The new hires come at something of an auspicious time for Bear. The firms