When Michael Nolan walked into his office on the 26th floor of the former Bear Stearns Cos. building on June 2, after the JPMorgan Chase & Co. takeover was completed, he found a packet on his desk. Inside: a JPMorgan security badge, a list of contacts and business cards that read, ”Bear Stearns: a JPMorgan Co.”
Nolan, 52, and 325 other Bear Stearns retail brokers will carry on the name after a crisis of confidence among customers and lenders forced the investment bank to sell itself to JPMorgan in March. Alan ”Ace” Greenberg, Bear Stearns’s best- known trader and its former chairman, will continue selling stocks to clients, 59 years after joining the New York-based company as a clerk.
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