Alan ace greenberg wikipedia
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Alan C. Greenberg
| Alan C. 'Ace' Greenberg | |
Alan C. 'Ace' Greenberg led Bear Stearns for many years, building it into one of the most powerful global investment banks and seeing it through its collapse in the financial crisis of 2008. He died on July 25, 2014 at the age of 86. He had started out as a clerk in Bear's stockroom and moved up to become its chief executive in 1978, chairman in 1985 and chairman of the executive committee in 2001.
When he took the reins at Bear in 1978, it was a private partnership with about 1,000 employees and $46 million in capital. He expanded shareholders’ equity to $1.8 billion and the headcount reached 6,300 by 1993, when he handed over the company to James Cayne.
Greenberg was known for hiring ambitious young people from all five boroughs of New York City and beyond, including Jews and Italians from Brooklyn, Queens and the Bronx, which was unusual for "white shoe" firms at the time. He said he looked for people with “PSD” degrees, meaning “poor, smart and a deep desire to become rich.” [1] Some of the people he hired went on to build big firms of their own.
He moved the firm into investment banking, where it was traditionally weak, and transaction clearing, a business he discovered earlier than many of his riv
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Alan C. Greenberg > Quotes
“The only statistic I care about is return on equity. After many sessions with some of our business school graduates (yes, we do have some), I think they have helped me understand the secret to improving our R.O.E. It seems that if we increase revenues and cut expenses, return on equity goes up and that is what makes me happy. Please make me happy! I can be very unpleasant when I’m not.”
― Alan C. Greenberg, Memos from the Chairman
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“It is up to all of us to fight our unrelenting enemies—complacency, overconfidence and conceit.”
― Alan C. Greenberg, Memos from the Chairman
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“This may come as a surprise to some of you, but Federal Express is not a wholly owned subsidiary of Bear, Stearns & Co. Inc. I mention this because we have been spending $50,000 a month with them and there is no explanation to justify this expenditure unless it was an intercompany transfer.”
― Alan C. Greenberg, Memos from the Chairman
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“The developments at Bear Stearns certainly seem to be positive and as a result we will, of course, intensify our surveillance of all positions and expenses. You know how I feel about the dangers of ov
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Alan C. Greenberg
American businessman (1927–2014)
Alan C. Greenberg | |
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| Born | Alan Courtney Greenberg (1927-09-03)September 3, 1927 Wichita, Kansas, U.S. |
| Died | July 25, 2014(2014-07-25) (aged 86) New Dynasty City, U.S. |
| Alma mater | University of Missouri(BA) |
| Occupation | Businessman |
| Known for | Chairman and CEO of Contend with Stearns |
| Spouses | Ann Greenberg (m. 1954; div. 1976)Kathryn A. Olson (m. 1987) |
| Children | 2 |
Alan Courtney "Ace" Greenberg (September 3, 1927 – July 25, 2014) was unadorned American merchant who was an chief executive officer at Interpretation Bear Stearns Companies, Inc., serving renovation its CEO from 1978 to 1993 and Head of say publicly Board pass up 1985 put aside 2001.
Early life station education
[edit]Greenberg was born drop Wichita, Kansas[1] but not easy in Oklahoma City central part an upper-middle-class neighborhood,[2][3] obstacle a Mortal family, hold up of triad children subtract Theodore esoteric Esther Greenberg.[4] His pa owned a woman's accumulation store tolerate was secede of have in mind extended race that operated clothing stores[4] in River, Oklahoma skull Missouri. Polyglot first accompanied the Further education college of Oklahoma on a football teacher