Bear Stearns as an investment bank may no longer exist, but the fate of onetime CEO Alan Schwartz remains very much an open question.
Sources tell The Post that Schwartz has been entertaining offers from private-equity firms in the wake of the unprecedented buyout by JPMorgan Chase of Bear a month ago.
Schwartz, a highly regarded Wall Street deal maker, is not expected to make any decisions on his future until the end of the summer.
According to people familiar with the matter, Schwartz’s options include staying with JPMorgan or jumping ship to one of the private-equity shops he’s had conversations with, including Kohlberg Kravis Roberts.
At this point, Schwartz reportedly has told those close to him that he is being “judicious” about making his next move.
Calls to Schwartz’s office were not returned and a JPMorgan spokeswoman declined to comment.
A KKR spokesman declined to comment.
So far, JPMorgan co-investment banking heads Bill Winters and Stephen Black have not had direct talks with Schwartz, nor have they presented him with a formal offer since JPMorgan completed its merger, sources said.
JPMorgan officials are hoping to meet with Schwartz, but they are not expecting to bring him on board, given that the bank already has its own rainmaker in Jimmy Lee.
Schwartz had been CEO of Bear Stearns for just three months when it was pushed into an unprecedented Federal Reserve-backed hookup with JPMorgan, in a bid to stave off a widespread financial collapse.