Steve Abrahams And Peter Rubinstein Join Bear Stearns Mortgage Research Group Within F.A.S.T.
NEW YORK, NY -- (August 6, 2001) -- Bear, Stearns & Co. Inc. announced today that Steve Abrahams and Peter Rubinstein have joined the firm as managing directors in the mortgage research group within the Financial Analytics & Structured Transactions Department (F.A.S.T.).
Mr. Abrahams will oversee agency structured product research, while Mr. Rubinstein will direct commercial mortgage research within the group. Both will report to Dale Westhoff, head of mortgage research and Senior Managing Director in F.A.S.T.
Commenting on the appointments, Tom Marano, head of mortgage trading, noted, "We are very excited to have highly talented individuals, like Steve and Peter, joining us. Both are recognized leaders within the industry and will be key figures in the continued expansion of our MBS and CMBS franchises." Mr. Westhoff added, "These hires underscore our deep commitment to providing only the highest quality of research to our MBS and CMBS customers. Steve and Peter are seasoned veterans, bringing a combined total of nearly 20 years of industry experience to their respective positions."
Prior to joining Bear Stearns, Mr. Abrahams directed Morgan Stanley's residential research group in developing and marketing relative value strategies on a wide range of securities. During that time, he was selected to the Institutional Investor Fixed Income All-America Research Team. Mr. Abrahams also worked at Freddie Mac as a director in the single-family portfolio management division where he set the direction for actively managing default risk on Freddie Mac's $800 billion residential mortgage portfolio. Mr. Abrahams holds an undergraduate degree from Northwestern University in journalism and economics and a Ph.D. in psychology from Columbia University.
Mr. Rubinstein joins Bear Stearns from Prudential Securities where he was senior vice president and head of ABS research. His primary focus was on mortgage-related products and ABS/CDOs, working closely with bankers to help develop new business and expand existing relationships. While at Prudential, Mr. Rubinstein was selected to the Institutional Investor Fixed Income All-America Research Team on two occasions, including first team honors in 1998. Earlier in his career, Mr. Rubinstein held senior research positions at Paine Webber and Donaldson Lufkin & Jenrette, where his broad responsibilities included coverage of the non-agency sector and the development of proprietary analytical models for analyzing defaults and loan level pricing. Mr. Rubinstein holds two graduate degrees from the University of California at Berkley: a Ph.D. in real estate and urban economics and an MBA in real estate finance.
Founded in 1923, Bear, Stearns & Co. Inc. is a worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $27.6 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer services, including securities lending. Headquartered in New York City, the company has approximately 11,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Buenos Aires, Dublin, Herzliya, Hong Kong, London, Lugano, Sao Paulo, Seoul, Shanghai, Singapore and Tokyo.