JPMorgan aiming to keep best Bear execs

JPMorgan Chase & Co
Chief Executive James Dimon visited Bear Stearns’ offices on Wednesday evening
to speak to more than 400 senior executives, according to reports in the New
York Times and Financial Times.

The New York Times said
Dimon made it clear that he hoped to retain the best employees at Bear, but
also made it plain many of the 14,000 employees would lose their jobs if his
bank completes a deal to buy Bear Stearns for $2 a share.

The Financial Times
reported JPMorgan is moving swiftly to retain Bear’s top performing bankers and
brokers and is preparing to deliver retention package offers for top employees
as soon as Thursday, citing people close to the situation.

The
FT said the move comes as JPMorgan’s rivals, such as Morgan Stanley, have begun
making efforts to pick off top Bear brokers with large bonus offers.