Some analysts said on Friday that Lane would bring a steady hand to Bear Stearns Asset Management, which had set an aggressive goal to account for 10 percent of the firm's revenue by 2010.
But Lane, who for the last four years has not been involved in day-to-day management of a business at Lehman, said he was not interested in baby-sitting a child suffering from growing pains. He said he expected to expand the business through acquisitions.
"I don't think anybody here is interested in retreating," he said. "From adversity comes opportunity. This is a great franchise, and we are going to move forward."
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