Richard A. Marin has been named the new chairman of Bear Stearns Asset Management, a subsidiary of The Bear Stearns Companies.

In the role he will seeks to expand BSAM’s asset management franchise and enhance its range of product offerings. As of the end of May, BSAM managed more than $21 billion in assets comprised of U.S. equity and fixed income separate accounts and mutual funds, hedge funds, private equity funds and venture capital funds.

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