Bear Stearns recruits futures sales team to target hedge funds

Bear Stearns has recruited an eight-person futures sales team to target hedge funds, led by industry veteran Roland Morris, for its interest rate futures department.

The New-York based team will be responsible for broadening the firm's distribution of futures services to institutional clients, focusing on the hedge fund and alternative investments sector. It will focus on distributing futures capabilities throughout Bear Stearns' fixed income, institutional equities and global clearing services divisions.

Roland Livney, senior managing director and co-head of national sales for the fixed-income division, said, "the hedge fund sector represents one of the fastest growing and most important segments of the market”.

The move is the latest in Bear Stearns' effort to expand its futures business. In August, the firm hired Alan Swimmer as senior managing director and national sales manager for interest rate futures.

Morris has 20-plus years' experience in the industry, providing futures services to hedge funds, commodity trading advisers, investment advisers and other large institutions, most recently at Salomon Smith Barney.