Alan Schwartz, who had the bad luck to take over as head of Bear Stearns just two months before it dropped into the dustbin of history, appears to be headed to Goldman Sachs. According to a source familiar with the negotiations going on between Goldman and Schwartz who spoke with Fortune, the chances are about “50-50” that Schwartz will soon be a partner-level Managing Director at Goldman.
We’d say the odds are even better than that. If this news is leaking out now, the deal is probably all but sealed.
Schwartz would be a big boost to Goldman’s investment banking pull in the media and telecom industries. It is being described as “a major coup” for Goldman. It’s also a clear sign that Goldman is confident it will be able to pay off the TARP soon. You have to think that they are telling Schwartz his pay won’t be capped at $500,000 for very long.
Lots of good stuff on Schwartz’s career in the Fortune story. Click here to read the whole thing.