Lehman Brothers
Testing times
Editor's letter
Nomura acquires Lehman’s Asian and European operations
Following its filing for bankruptcy last weekend, the carving up of Lehman Brothers has continued with Japanese bank Nomura Holdings agreeing to acquire the Wall Street firm’s European and Asia-Pacific franchises.
Barclays Capital expected to take over Lehman indexes
Barclays Capital looks set to acquire Lehman Brothers’ suite of indexes, widely used as a benchmark in the fixed-income market.
Banks scoop up Lehman's derivatives clients
Dealers have reported a surge in business in the wake of the bankruptcy of Lehman Brothers, as former clients of the failed investment bank look for new counterparties to replace hedges.
BOCHK reveals $69 million exposure to Lehman Brothers
Bank of China Hong Kong (BOCHK), the 60%-owned subsidiary of Beijing-based Bank of China, has direct exposure to troubled US dealer Lehman Brothers of $69.21 million in the form of Lehman corporate bonds.
Barclays buys Lehman's capital markets business in the US
Barclays has acquired Lehman Brothers' US investment banking and capital markets businesses, including its derivatives operations, for $250 million.
Isda attempts to reassure investors
Daily news headlines
Lehman Brothers bankruptcy to be largest in history
The liquidation of Lehman Brothers will be the largest bankruptcy in history, with the defunct investment bank holding consolidated assets of $639 billion and liabilities of $613 billion as of May 31, 2008, according to court documents.
Bank CDS spreads widen dramatically following Lehman collapse
The cost of protection on credit default swaps (CDSs) referenced to the world’s largest financial institutions has skyrocketed as Lehman Brother’s bankruptcy has heightened counterparty credit risk concerns.
Lehman Brothers Japan seeks bankruptcy protection
Lehman Brothers Holdings Japan started bankruptcy protection proceedings in Tokyo today. Under Japanese law, Lehman Japan will be “prohibited from payment of obligations based on the causes [that] arose on or before September 15, 2008, excluding certain…
Lehman Brothers files for bankruptcy
Daily news headlines
Lehman unwind could take years, says PWC
Unwinding the hundreds of billions of dollars worth of assets and liabilities held by Lehman Brothers could take years, according to Tony Lomas, a partner at PricewaterhouseCoopers (PWC), which has been appointed administrator to Lehman Brothers…
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
Bank of America buys Merrill Lynch for $50 billion
Bank of America announced today it will acquire Merrill Lynch in a $50 billion all-stock deal, rounding off an explosive weekend on Wall Street.
No respite for Lehman after loss warning
Chief executive Richard Fuld’s plan to rescue Lehman Brothers by selling off many of its operations has failed to stem a fall in market confidence, after the bank predicted record losses in the third quarter of this year.
Lehman appoints new fixed-income chiefs
Lehman Brothers has appointed Eric Felder and Hyung Soon Lee as global co-heads of fixed income.
Lehman releases inaugural issue of Dual Income Plan
Lehman Brothers has launched the first issue of its Dual Income Plan, offering investors a choice of 8.8% annual fixed income or 0.71% monthly fixed income. The five-year plan, linked to the FTSE 100 index, provides full return of capital at maturity…
BarCap works to revive life insurance securitisation
For Barclays Capital, a recent £250 million ($495 million) securitisation of part of UK insurer Aegon Scottish Equitable’s life portfolio proves there’s life left in the life insurance securitisation market.
Ex-Lehman Bros CFO joins Credit Suisse
Erin Callan will join Credit Suisse as head of its global hedge funds business. She was chief financial officer at Lehman Brothers until she was removed from the role in June, several days before the bank revealed it had made a $2.8 billion loss in the…
Lehman Brothers expands Asia-Pacific corporate sales team
Lehman Brothers has made two senior appointments to its corporate sales team covering the Asia-Pacific region.
Lehman removes president and CFO as share plunge continues
Troubled Wall Street firm Lehman Brothers, still reeling from the announcement that it expects to report a $2.8 billion loss for the second quarter, its first quarterly loss since going public 14 years ago, has relieved two senior managers of their…
Lehman back from the brink?
Lehman Brothers saw its shares rise dramatically today as it reassured investors about its liquidity supply.
Lehman Brothers suffers mispricing losses
Lehman Brothers in London has become the latest financial firm to suffer losses from unauthorised trader activity, losing a reported $150 million on misvalued exotic equity derivatives trades.