Former Bear Stearns CEO Jimmy Cayne died Tuesday December 28 2021, days after suffering a stroke Cayne rose from broker to president and then CEO at Bear Stearns, which he helped shape as a major player in the financial and deal-making world. He was 87 years old. Mr. Cayne, known as Jimmy, was a college dropout who rose to become the first Wall Street chief to own a company stake worth more than $1 billion. He presided over Bear for more than 20 years as president and later as CEO. Cayne was forced out of his role as CEO in January 2008 after the firm recorded its first quarterly loss ever. The subsequent collapse of Bear Stearns was the first major domino to fall during the financial crisis in 2008. Following the demise of Bear, Cayne faded from view in the financial world. In addition to his daughter Alison Cayne, he is survived by his wife Patricia; another daughter, Jennice Schenker; his sister, Merel; and seven grandchildren. His first marriage ended in divorce. James Eliot Cayne was born on Feb. 14, 1934, in Evanston, Ill. His father, Maurice, was a patent attorney, and his mother, Jean, was a homemaker. He studied engineering at Purdue University but left without receiving a degree Cayne rose from broker to president and then CEO at Bear Stearns, which he helped shape as a major player in the financial and deal-making world. All the while, he was a world-class bridge player and sponsor whose teams won multiple North American championships.