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Judge OKs Neuberger’s sale to staff
A bankruptcy judge has approved the sale of Lehman Brothers’ Neuberger Berman unit to a group led by Neuberger's management and employees, in a deal valued at $922 million.
Lehman broker made $4.8M from wife’s tipoffs
Matthew Devlin, a former Lehman Brothers Holdings Inc. broker received tips about pending mergers from his wife, a partner at a public relations firm, in a scheme that netted $4.8 million in profits, according to the SEC.
Neuberger team wins Lehman biz
A group of Neuberger Berman LLC managers and senior professionals has won control of bankrupt Lehman Brothers Holdings Inc.’s asset management business following an auction in New York’s federal bankruptcy court.
Lehman bolsters Nomura’s profit picture
The purchase of some of Lehman Brothers Holdings Inc.’s business units will enable Japanese brokerage firm Nomura Holdings Inc. to earn a profit despite poor market conditions.
Sale of Neuberger Berman not quite a done deal
Even though the sale of Neuberger Berman LLC of New York was thought to be a done deal more than a month ago, the company is still in limbo as an auction process drags on — one that could damage to the firm's value, according to industry experts.
Deutsche sues Lehman for $72.5 million
Deutsche Bank AG is suing Lehman Brothers Holdings Inc. to recover $72.5 million that was allegedly accidentally transferred to the investment bank after it had filed for Chapter 11 bankruptcy protection in September.
Fuld’s Lehman swan song: No bonus
Lehman Brothers Holdings Inc. chief executive Richard Fuld Jr. will leave the bankrupt investment bank by the end of the year without taking a bonus. He received a $34.4 million bonus in 2007.
Barclays rebrands Lehman index family
Barclays Capital is combining its family of indexes with those of Lehman Brothers under the Barclays Capital Indexes name, said Waqas Samad, head of Barclays Capital’s index products group.
Dancing on graves
For those seeing black humor in the demise of some of our biggest financial institutions, Giordano International Ltd. has created a line of satiric and ghoulish mourning attire.
Carlyle said to eye Lehman’s investment unit
The Carlyle Group of Washington is expected to make a bid for Lehman Brothers Holdings Inc.'s investment management division, a source familiar with the matter told Reuters.
Hong Kong probes Lehman-related products
The Hong Kong Monetary Authority, the de facto central bank of Hong Kong, today referred 24 cases to the Securities and Futures Commission in Hong Kong concerning the misconduct and “mis-selling” of Lehman Brothers Holdings Corp.-related investment products.
Report: Lehman’s Fuld, execs subpoenaed
Prosecutors have subpoenaed a dozen executives at Lehman Brothers Holdings Inc., including former chief executive Richard Fuld Jr., in connection with three grand jury probes into the bankruptcy at the Wall Street firm, according to the New York Post.
Lehman credit-swap auction sets payout pittance
An auction to determine the value of Lehman Brothers Holdings Inc. bonds for derivatives traders were valued at 8.625 cents on the dollar, according to Creditex Inc. and Markit Group Ltd.
Lehman execs to get hefty retention bonuses
Several top executives and money managers at Lehman Brothers will get retention bonuses valued at a cumulative $400 million when the sale of its investment-management business to Bain Capital and Hellman & Friedman is completed, according to published reports.
Report: Severance cut for ex-Lehman workers
Lehman Brothers Holdings Inc., the bankrupt investment bank that has fired about 4,000 workers since March, has told some employees that their severance payments have been cut off, according to a Bloomberg report.
Lehman’s Fuld roasted at House hearing
Richard Fuld Jr., chief executive of Lehman Brothers was on the hot seat today as he testified in front of the House Oversight and Government Reform Committee.
Schwab opts for guaranty program
All Schwab money market funds will participate in the temporary guaranty program for money funds announced by the Department of the Treasury on Sept. 19.
Industry feels spillover effect
The structured- products industry, after watching sales nearly double last year to a record $114 billion, was knocked off its axis this month by a concentrated blast of spectacular corporate meltdowns.
More Lehman defections to come, experts predict
The UBS shock-and-awe hire last Wednesday of more than two dozen Lehman Brothers advisers who manage about $11 billion in assets is an indication Barclays PLC is going to have a hard time holding on to top talent in its newly acquired American wealth management division, according to industry observers.
UBS rich in ex-Lehman wealth advisers
UBS' wealth management division has added approximately $11 billion in assets by hiring more than two dozen financial advisers specializing in high-net-worth clients from Lehman Brothers private investment management brokerage division.
