At least some Bear Stearns execs have bright futures.
Jeffrey Mayer, the co-head of fixed income (BSC), won’t be joining JP Morgan after all. SEC filings in April revealed that JP and Mayer had an oral agreement for a $27 million compensation package, including $15 million in restricted stock the day Mayer started. He was poised to become the vice chairman of the investment bank, focused on global markets.
However, Mayer has now reneged on the offer. No reason given, so let us hazard a guess: Someone else is willing to pay more.
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