NEW YORK - Bear, Stearns & Co. said Tuesday that it has hired David M. Platter to be senior managing director and head of its financial institutions group.
Mr. Platter's group is to provide strategic investment banking services, including capital raising and merger-and-acquisition advice, to a range of financial services companies.
Most recently Mr. Platter was managing director in the financial institutions group at Donaldson, Lufkin & Jenrette Inc., another New York company that has had a wave of defections lately by investment bankers and syndicated lending executives.
David Glaser, co-head of investment banking at Bear Stearns, said in a statement that Mr. Platter's appointment "highlights Bear Stearns' expanding investment banking franchise, both in the U.S. and in Europe."
Mr. Glaser added in the statement that the firm wants to become as well known as an adviser to financial institutions as it has been as an adviser to the health-care, telecommunications, technology, media/entertainment, and real estate, gaming, and lodging sectors.