The Bear Stearns Cos. name may live on through memorabilia sold on eBay. Starting next month, it won't be on a business card.
The Bear Stearns private client services division, the last to use the name of the failed firm, is changing to JPMorgan Securities, spokesman Darin Oduyoye said.
The move was announced to brokers Friday on a conference call. Clients will see the new logo on their February statements.
JPMorgan Chase & Co., which acquired the unit in its March 2008 purchase of Bear Stearns, kept the name and branded it "Bear Stearns: a JPMorgan Company."
The move comes after the unit had one of its best years in terms of hiring, client revenue and products offered, said Barry Sommers, the head of the divison. Being able to leverage the JPMorgan name will help the business going forward, he said.
JPMorgan hired 70 brokers in 2009, bringing the total to 386.