Bear Stearns is looking for a global bank bond analyst in an effort to step up its fixed-income coverage overseas.
"The global markets are heating up, and we want to be able to tap into that market," said Daniel Scotto, head of research.
Bear Stearns "has a strong international presence on the fixed-income side so this doesn't surprise me," said bank and brokerage firm analyst Katharine Blecher of Gruntal & Co.
As the U.S. market becomes overcrowded, more and more brokerage firms are covering foreign banks, who are becoming increasingly more receptive to sophisticated fixed-income products, added Ms. Blecher.
So far, three analysts cover bank fixed-income products at Bear Stearns. Andrew Gilligan covers U.S. and foreign banks; Mark Girolomo covers finance, insurance, and investment banks; and David Taff covers banks in emerging markets.
The company has had an analyst vacancy in its fixed-income bank research since veteran analyst Ann Robinson left in August.
Meanwhile, Aaron Clark, 27, recently joined Dean Witter as an assistant vice president. He oversees a portfolio of financial institutions. Mr. Clark left Gerard Klauer Mattison in April where he worked as an analyst covering brokerage and asset managers under veteran bank analyst George Salem.
Before Gerard Klauer Mattison, Mr. Clark worked as a junior analyst at Prudential Securities covering bank stocks.