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Bear's West Coast Banking Head Jumps to B of A

Bank of America hired former Bear Stearns Senior Managing Director Cary H. Thompson to head investment banking on the West Coast, a new position. Thompson is based in Los Angeles.

According to the New York Post, the job is similar to the role he had at Bear Stearns. He'll report to B of A's head of investment banking, Brian Brille. He'd been with Bear since 1999. The Post says his role at B of A "suggests the firm is attempting to bolster its investment banking shop after CEO Ken Lewis in October famously said he'd 'had all the fun I can stand in investment banking at the moment.' "

Thompson holding his Post at Bear wasn't a sure thing since its acquisition by JPMorgan. The bank's current head of West Cost banking, Peter Engel, "is widely considered a top talent," the newspaper says.

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AUTHORMark Feffer Insider Comment

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