Investment banking advisory and private equity firm Centerview Partners has scooped up the former head of Bear Stearns’ media and entertainment corporate finance practice, Lisbeth Barron.
Barron’s hire will help to broaden Centerview’s advisory services to include the media and entertainment sectors.
Senior investment banking executives from Bear Stearns have scattered throughout Wall Street following the company’s collapse. The merchant banking division announced that it will become an independent firm on 5 June, asserting that its largely independent operations were, for the most part, unaffected by the demise of the greater organisation.
Centerview Partners was founded in July 2006 by Stephen Crawford, a former co-president at Morgan Stanley; Robert Pruzan, former CEO of Dresdner Kleinwort Wasserstein North America and president of Wasserstein Perella & Company, both investment banking firms; and Blair Effron, ex-vice chairman at investment services firm UBS.
The firm’s private equity practice, headed by former Gillette chief executive James Kilts, is currently raising its first fund targeting $1 billion, according to the Probitas Partners 2008 Private Equity Deskbook. At the time of Kilts’ hire in October 2006, The New York Times reported sources close to the firm as saying that Kilts would likely raise the consumer-oriented fund within a year.