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Alan Greenberg dies at 86; former CEO oversaw Bear Stearns' rise
Alan Greenberg dies at 86; former CEO oversaw Bear Stearns' rise

Alan C. "Ace" Greenberg, who as chief executive officer of Bear Stearns transformed a small bond shop into the fifth-largest U.S. securities firm before it collapsed in 2008 in one of the key events of the global credit crisis, has died. He was 86. He died Friday at Mount Sinai Hospital in New York of complications from cancer, according to his son, Ted Greenberg. An amateur magician and bridge player, Greenberg took over New York-based Bear Stearns in 1978, when it was a private partnership with about 1,000 employees and $46 million in capital. He expanded shareholders' equity to $1.8 billion and the workforce reached 6,300 by 1993, when he handed power to James...

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