Bear Stearns hires US rate futures sales manager

US investment bank Bear Stearns has hired Alan Swimmer from rival Citigroup Salomon Smith Barney as a senior managing director and national sales manager for its interest rate futures business.

Based in Chicago, Swimmer will attempt to broaden Bear Stearns’ distribution of interest rate futures. He is currently co-chairman of the futures commission merchants committee at the Chicago Board of Trade.

“Interest rate futures are a valuable risk management tool, as evidenced by the record volume these instruments have experienced in the past year,” claimed Roland Livney, Bear Stearns’ co-head of national sales for fixed-income instruments.