Robert B. Stearns
Robert B. Stearns | |
|---|---|
| Born | 1888 |
| Died | 1954 |
| Occupation(s) | Financier, banker |
| Known for | Co-founder of Bear Stearns |
Robert B. Stearns (1888–1954) was a prominent American financier and one of the founding partners of the investment firm Bear Stearns, established in 1923.
Early life
Stearns was born in 1888 to Isaac, the founder of Stern's Department Stores, and his wife Virginia (née Michaels). He completed his education at Phillips Academy, Andover in 1906 and went on to graduate from Yale University in 1910. It is possible that he altered his surname upon entering Andover, where the headmaster was Alfred Stearns.
Wall Street career
Following a period working in Europe, Stearns joined the brokerage firm J.J. Danzig & Co.. In 1923, he co-established Bear Stearns alongside partners Joseph Ainslie Bear and Harold C. Mayer. Beginning in 1929, he became affiliated with the New York Curb Exchange—later known as the American Stock Exchange—eventually serving as its chairman.
Death
Stearns was married twice during his lifetime. His first marriage was to Bernice Marks, daughter of Manhattan Borough President Marcus M. Marks, and together they had three children: Veronica Stearns Lamy, Pamela Stearns Baron, and Roland B. Stearns. The couple later divorced. His second spouse was Margaret Allen. Stearns passed away at Roosevelt Hospital in Manhattan on December 14, 1954, at the age of 66.