Energising Houston

Bear Stearns created its Houston-based energy group to acquire and optimise powergeneration assets in North America. And the business is going from strength tostrength, says its managing director Pamela Baden. PaulLyon reports

“Any time there is a void in the market, banks examine their opportunitiesmore intensely,” says Pamela Baden, managing director of investment bankBear Stearns’ Houston-based energy group.

But unlike other banks that established energy trading desks following the energymerchant collapse, Bear Stearns took a different approach. The bank’s energygroup, created last June, is solely concerned with buying energy assets to buildthe firm’s securitisation capabilities. The group typically buys