Bear Stearns chairman becomes Europe boss

Michel Péretié, chairman of Bear Stearns’ international arm, has been appointed to the new post of chief executive in Europe.

James Cayne, chairman and chief executive of the group, says the growth in strength and importance of the investment bank’s European franchise has made the new position necessary.

Péretié retains the supervisory role of chairman of Bear Stearns International, which he has held since January 2004. He was previously head of fixed income and derivatives for Europe and Asia

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