Bear, Stearns & Co. Inc. today announced the hire of Macario Lullo and James Greenawalt, two veterans in financial futures sales, as a part of the company’s continued expansion of its futures business.
Lullo and Greenawalt joined Bear Stearns’ Chicago office to assist major domestic financial institutions with futures and other interest rate products. Both are managing directors and report to Al Swimmer, senior managing director and head of domestic futures sales for Bear Stearns.
“Bear Stearns is committed to investing in our sales force to meet client demand, which has increased over concerns about inflation, energy prices and the weakness of the dollar,” Swimmer said. “We have expanded our product platform over the past three years, and we continue to add staff with valuable expertise and strong client relationships.”
The Futures Department had record growth in 2004. Revenues rose by 20% due to increased trading activity in the energy markets accompanied by investor response to escalating volatility in interest rates and the equity markets worldwide. Bear Stearns’ ability to deliver access to global markets around the clock has been central to its continued growth, Swimmer said.
“Sharp demand for futures has clients requesting numerous products from one salesman,” Lullo said. “Bear Stearns has the capacity and the technology to deliver that kind of service, and it makes the company an attractive place to work.”
Lullo was a director in Deutsche Bank’s Global Finance Division of Global Markets and the branch manager of its Chicago futures operations. He was responsible for sales and developing business strategies. Prior to that, he spent nine years at Merrill Lynch, where he was treasury note desk manager. In addition to an economics degree from Northwester University, Lullo also earned an MBA at the University of Chicago in 2001.
Greenawalt spent 12 years in financial futures most recently at Deutsche Bank and previously at Merrill Lynch. A graduate of Boston College, he earned his MBA at the University of Notre Dame in 1990.