Etienne Amic Appointed Head of Bear Energy in Europe
London 3 July 2007 — Bear, Stearns International Limited today announced the launch of its European energy business with the appointment of Etienne Amic as head of Bear Energy in Europe. Mr. Amic will be responsible for building the European franchise of Bear Energy. Mr. Amic joins the firm as a senior managing director and a member of the Management Committee of Bear Energy.
Commenting on the hire, Eli Wachtel, the Global Co-Head of The Bear Stearns Energy Division, said, "We have made great strides over the past year in building our presence in the energy markets. Expanding into Europe was the next logical step and Etienne is the ideal choice to lead this effort. His extensive experience and reputation in the industry will be instrumental in strengthening our current capabilities and leading our growth in Europe."
Mr. Amic added, "I am excited to join Bear Stearns and help build the European energy business. Bear Energy's approach is unique in the industry. In just a year, they have built a strong franchise and are well positioned to become one of the largest physical energy traders in the market. By leveraging the strengths of Bear Energy in the US, we have the opportunity to make a great impact in the European energy market."
Michel Péretié, CEO, Bear Stearns International Limited, commented, "Bear Energy has been one of the rising stars of the Group over the past year and I'm very pleased that we're now able to cultivate the franchise as part of our European development. We have made a significant hire in Etienne Amic, who is one of the more experienced players in this sector and we are keen to provide him with everything he needs to grow his business as we expand our international operations."
Bear Energy in Europe will offer structured origination and financial products, including natural gas, electricity, emissions and oil and refined products. In May, Bear Energy significantly enhanced their franchise with the announcement of the purchase of most of the power assets from The Williams Power Company, an energy trading and marketing subsidiary of The Williams Companies, Inc.
Prior to joining Bear Stearns, Mr. Amic was Global Head of Commodities at Calyon, Credit Agricole's Corporate and Investment Banking entity. Previously, he held various positions at Total Gas & Power Ltd and Total Oil Trading SA, units of the oil and gas company Total. In particular, he was in charge of Energy Origination and Power & Structured Products Trading. Mr. Amic started his career as a project cost controller in China. He graduated from the Ecole Normale Superieure and Ecole Nationale Superieure des Mines de Paris. He holds advanced degrees in Quantum Physics and Capital Markets.
About Bear Energy:
Bear Energy was founded in 2006 to provide flexible, comprehensive energy solutions in the physical and financial energy markets for clients across the energy value chain. Headquartered in Houston, Texas, Bear Energy currently manages more than 6000 MW of physical power assets and employs an experienced team of 160 energy professionals with extensive physical market knowledge and financial risk management expertise.
As a wholly owned subsidiary of The Bear Stearns Companies Inc., all transactions are guaranteed by the A1/A/A+ rated parent, offering customers the credit quality now required in the volatile energy markets. To learn more about Bear Energy, please visit www.bearenergy.com.
About Bear, Stearns International Limited
Bear, Stearns International Limited is a wholly owned subsidiary of The Bear Stearns Companies Inc. and is authorised and regulated by the Financial Services Authority.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the company has approximately 15,000 employees worldwide.
Founded in 1923, The Bear Stearns Companies Inc. (NYSE:BSC) is a leading financial services firm serving governments, corporations, institutions and individuals worldwide.