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Lehman Brothers›
Analysis
Lehman Brothers

Lehman Brothers

Operating Status: Inactive

Lehman Brothers Inc., a defunct American firm, provided institutional brokerage services.

Operating headquarters
New York City, NY, US🇺🇸
Founded
1850
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Overview
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Employees

Contents

  1. 01Competitive Strengths
  2. 02Market Outlook
  3. 03Executive Summary
  1. 01Competitive Strengths
  2. 02Market Outlook
  3. 03Executive Summary

Competitive Advantages

Lehman Brothers ranked among the bulge-bracket investment banks, with a global securities franchise spanning equity and fixed-income sales, trading, research, and underwriting. It came through the 1997 Asian financial crisis and the 1998 collapse of Long-Term Capital Management while expanding internationally, and in its final years non-US subsidiaries produced more than half of its revenue.

Its underwriting relationships stretched back more than a century, from the 1899 International Steam Pump offering to technology listings in the 1950s, and its Investment Management Division reported roughly $3.1 billion in net revenue in its final annual report.

Source: en.wikipedia.org

Market Outlook

Lehman Brothers filed for Chapter 11 protection on September 15, 2008, citing $613 billion in bank debt and $639 billion in assets, the largest bankruptcy filing in United States history at the time. Its shares lost more than ninety percent that day, and the Dow fell more than five hundred points.

The firm's businesses dispersed within weeks: Barclays acquired the core North American operation, Nomura bought the Asian division and the European equities and investment banking units, and Neuberger Berman was sold to its own management with creditors retaining 49 percent of its equity.

Source: en.wikipedia.org

Memo

After the 2008 filing, Alvarez & Marsal's Bryan Marsal led the estate as chief executive while John Suckow served as president and chief operating officer. The estate retained roughly $20 billion of securities assets in Lehman Brothers Inc that had not passed to Barclays, and spent the following years in litigation with creditors.

The venture arm Lehman Brothers Venture Partners, founded in 1995, became the independent firm Tenaya Capital in 2009 after HarbourVest financed a buyout of Lehman's interests, and the European quant business was renamed TOBAM in November 2008.

Source: en.wikipedia.org