Bear Stearns aims to grow asset management

Is Bear Stearns gearing up to buy some asset managers? Few would be surprised. The firm aims to boost revenue from asset management to 10 percent of the total from about 3 percent now. That means following in the path of the likes of Goldman Sachs and Morgan Stanley in several markets. Bear seems to be gearing up in hedge funds a bit. It recently has been pushing its quantitative business, known as Systematic; it has generated some impressive returns. Bear Stearns has also built up its small cap and international equity teams. A move to purchase a hedge fund or two would make sense. You also have to wonder what its intentions in the private equity industry are.

For more Bear's asset management aspirations:
- Here's an article from Investment News