![]() Those struggles fueled speculation that Bear Stearns would sell all or part of itself to a larger bank, to give it greater heft in uncertain markets.ĭonald Tang, a Bear Stearns vice chairman who maintains good relations with top executives at CITIC Securities' parent, CITIC Group, as well as with Chinese regulators, was travelling in Beijing on Monday to close the deal, a source familiar with the situation told Reuters.Ī CITIC official working in its board office told Reuters that Shanghai-listed shares of CITIC Securities were suspended before the start of trading on Monday. mortgages and derivative securities led to collapses at two of its hedge funds, losses in its flagship mortgage business, and the ouster of co-President Warren Spector. On March 16, 2008, Bear Stearns, the 85-year-old investment bank, narrowly avoids bankruptcy by its sale to J.P. The partnership, in turn, was the successor to a company founded in 1923 by Joseph Bear, Robert Stearns, and Harold Mayer as an. CITIC shares have risen 600 per cent over the past year.īear Stearns, by comparison, has seen its share price fall 28 per cent this year, giving it a market value of $13.4-billion. Bear Stearns Companies, Inc., the holding company that owns Bear, Stearns & Company, Inc., was created on October 29, 1985, as the successor to Bear Stearns & Company and Subsidiaries, a partnership organized in 1957. “The demand for accurate same day valuations for these products has become a high priority for much of the investment community and we’re pleased to provide our offering through Reuters.Boosted by a feverish rally in mainland Chinese stocks, CITIC has a market value of $46.8-billion - bigger than Lehman Brothers Holdings Corp. “Credit default and interest rate swaps have become a major part of PricingDirect,” adds Unmesh Bhide, a Vice President at PricingDirect. Fifteen years before SVB Financial crumbled, Bear Stearns, one of the world's largest investment banks with around 400 billion in assets, headed toward bankruptcy. PricingDirect offers daily evaluations based on a 6.30AM (11:30 GMT),11:30AM (4:30 PM GMT), 3PM or 4PM ET market snapshots in multiple currencies supporting over 2,000 credit curves, and has been providing pricing on swaps since 2004. Reuters Pricing and Reference Data offers comprehensive and accurate fixed income pricing to mutual funds, hedge funds, custodians and other major buy side clients. The Company is a holding company that through its broker-dealer and international bank. (the Company) was incorporated under the laws of the State of Delaware on August 21, 1985. ![]() Because the value of the assets on which the funds returns were based was. The following is an excerpt from a 10-K SEC Filing, filed by BEAR STEARNS COMPANIES INC on. Glenn Hubbard of Columbia Business School delivered expert testimony. This unique combination provides customers with the ability to source a full range of credit pricing data from Reuters Pricing and Reference Data and Pricing Direct. In June, Bear Stearns told clients that the High-Grade fund was down 91 and. Choosing the right expert can be essential to the outcome of a trial, as evidenced by juror interviews following the acquittal of two former Bear Stearns hedge fund managers in a high-profile case in which Analysis Group affiliate Dean R. ![]() This opportunity is a key component of Reuters’ broader overall strategy to provide our customers with comprehensive credit derivatives data.” “As a result of increasing regulation, clients require multiple pricing sources and a choice of providers. We are confident that combining our operations in Asia with CITIC Securities will greatly benefit Bear Stearns global client base and generate substantial. “We are delighted to be able to offer PricingDirect evaluations to our global client base,” says Kevin Bradshaw, the global head of Enterprise Information at Reuters. This is the first step of a broader credit derivatives strategy for Reuters Pricing and Reference Data to provide customers with independent class-leading credit derivative pricing based on a Reuters’ composite alongside pricing from premier partners. The addition of PricingDirect evaluations to Reuters’ suite of capabilities provides Reuters’ customers with a source of single broker CDS quotes to meet the demanding pricing and fund evaluation requirements of today’s markets. resources to acquire Bear Stearns and the banking operations of. say that Reuters clients will now be able to receive credit default swaps and interest rate swaps pricing evaluations from Bear Stearns Pricing Direct Inc. vide to their respective client bases, follows.
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