Bear Stearns Asset Management has lifted out BKF Capital's quantitative equity and small-cap value portfolio management teams. Managing Director Michael Rosen and Analyst Lindsey Houghton will run BSAM's quantitative equity strategy, and managing directors Jordan Alexander and Stephen Friscia will run the small-cap value strategy. The teams will report to Michael Guarasci, senior managing director and head of BSAM's institutional business. Mr. Guarasci was not available for comment. Michelle O'Brien, BSAM spokeswoman, said both teams will bring their tracks records and client assets to BSAM, but she would not disclose the amount. John Siciliano, chief executive of BKF, said that the firm has no plans to replace the two teams. He also said the firm will focus on alternative investments in the future.
David A. Chalfin joined Asset Management Finance as a vice president. He will focus on due diligence, transaction execution and corporate legal matters, Mr. Chalfin said in a telephone interview. It is a new position. Mr. Chalfin was vice president of the mergers and acquisitions corporate development department at New York Life Insurance. Bill Werfelman, a New York Life spokesman, was unable to provide information on Mr. Chalfin's replacement.
