December 26, 1992 |
Charity begins at home, so the saying goes. Not at Bear Stearns Cos., the nation's seventh-largest securities firm. Bear Stearns has a policy requiring its top 130 employees, called senior managing directors, to give at least 4% of their compensation to charity each year. In good years, such as fiscal 1992 when Bear Stearns earned a record $300.3 million, company officials may give as much as $12 million to charity, said William Montgoris, chief financial officer.