“Ace” Greenberg, Oklahoma City native and former head of Bear Stearns, dies at 86

The Wall Street legend led Bear Stearns as it grew into one of the most profitable investment banks in history.
by Don Mecoy Modified: July 25, 2014 at 7:06 pm •  Published: July 26, 2014

photo - 
Alan “Ace” Greenberg 


In the Bear Stearns book, Greenberg recounted mistakes, including his own, that contributed to the firm’s downfall. But he didn’t lay the blame on any single person or entity.

“It’s evolution,” he said at the 2010 book-signing. “The strong survive and the weak don’t. That’s the way it ought to be.”

After the firm sold, Greenberg pledged $200 a month for six years to each of the company’s 27 developmentally disabled employees.

Greenberg considered it “one of the major insults of my life” that neither of his hometown newspapers — The Oklahoman and The New York Times — printed a letter he wrote proposing a new method of determining a quarterback’s responsibility for interceptions.

Greenberg published the letter in full in his last book. The Oklahoman printed the letter in 2010.

Into his 80s, Greenberg continued to work at JPMorgan — “but just five days a week,” played high-stakes bridge, performed sleight of hand on request, hunted and fished regularly and still found time to return to Oklahoma City from time to time.

More than six decades after leaving Oklahoma City, he said, “it’s always fun coming home.”

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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