Bear Stearns is planning an aggressive expansion in Europe and Asia as the US investment bank builds on its strong growth at home, the Financial Times has reported.
The number of staff in Europe will rise from 1,300 to about 2,000 within the next two years, while Asian headcount will double from 400 over the same period, the newspaper quoted senior bank executives as saying.
Bear Stearns’ European growth — which will depend on benign market conditions persisting — will be focused on London, but will also involve the opening of offices in Paris and Frankfurt in the summer, it said.