Bear Stearns has hired Brad Kastan and Jim Bowman as managing directors of the firm's private client services division in a new satellite office in Columbus, Ohio.
The new office opened yesterday, when Kastan and Bowman officially joined the firm. Kastan and Bowman are brokers for Bear Stearns' institutional clients.
Before joining Bear Stearns, Kastan was a senior vice president with UBS Financial Services. Bowman was a senior vice president with Legg Mason. They had both worked together previously at PaineWebber.
Bear could hire additional brokers for the Columbus office, but for the time being, Kastan and Bowman are the only staff members. Bear opens satellite offices for top brokers who do not live near one of the firm's branch offices. Last year, the firm opened satellite offices in the St. Louis, Missouri area and in northern New Jersey.
Bear Stearns' private client services division is headquartered in New York City. The Bear Stearns satellite office in Columbus will be located in Easton, and Kastan and Bowman will be supported by the Chicago branch.