Bear Stearns is selling its subsidiary, Bear Stearns Fiduciary Services, to management of the Washington-based firm. The former subsidiary, now called Independent Fiduciary Services, will continue to specialize in operational reviews of public and private pension funds' investment programs. Bear Stearns also will continue to work with Independent Fiduciary Services on a joint venture basis. Francis X. Lilly, formerly president of the subsidiary, is now president and chairman of Independent Fiduciary Services.
Bear Stearns is selling its subsidiary, Bear Stearns Fiduciary...
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