Lehman Brothers Holdings Inc. (former NYSE ticker symbol LEH) ( /ˈliːmən/) was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the US (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), doing business in investment banking, equity and fixed-income sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking.
At 1:45AM on September 15, 2008, the firm filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock, and devaluation of its assets by credit rating agencies. Lehman Brothers' bankruptcy filing is the largest bankruptcy in U.S. history, and is thought to have played a major role in the unfolding of the late-2000s global financial crisis. The following day, Barclays announced its agreement to purchase, subject to regulatory approval, Lehman's North American investment-banking and trading divisions along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by US Bankruptcy Court Judge James M. Peck. The next week, Nomura Holdings announced that it would acquire Lehman Brothers' franchise in the Asia-Pacific region, including Japan, Hong Kong and Australia, as well as Lehman Brothers' investment banking and equities businesses in Europe and the Middle East. The deal became effective on October 13, 2008.
Other articles related to "lehman brothers, lehman, brothers":
... to regulatory approval, the investment-banking and trading divisions of Lehman Brothers, a United States financial conglomerate that had filed for bankruptcy ... In the deal, Barclays also acquired the New York headquarters building of Lehman Brothers ... the deal, a US$1.35 billion (£700 million) plan for Barclays plc to acquire the core business of Lehman Brothers (mainly Lehman's US$960 million Midtown Manhattan office skyscraper, with ...
... and historical predecessors (this is not a comprehensive list) Smith Barney Shearson Lehman Brothers Shearson Lehman Hutton Shearson Lehman Brothers Shearson/Amer ... Messel Co Lehman Brothers Kuhn Loeb Lehman Brothers Kuhn, Loeb Co Abraham Co E ...
... (1985) 745 Seventh Avenue, New York, NY (2002) * Henry Lehman established his first store location on Commerce Street, in Montgomery, in 1845 ... In 1848, one year after Emanuel's arrival, the brothers moved "H ... Lehman Bro." to 17 Court Square, where it remained when Mayer arrived in 1850, forming "Lehman Brothers" ...
... Lehman Brothers Treasury Co ... LBT is a fully owned subsidiary of Lehman Brothers UK Holdings (Delaware) Inc ... which company is fully owned by Lehman Brothers Holdings Inc ...
... After the collapse of Lehman Brothers on September 15, 2008, questions were raised about the future existence of the Centre ... According to media reports, Lehman Brothers had committed £1.75m over five years from 2006 to 2011 toward establishing the Centre ... Since the Nomura purchase of some Lehman Brothers assets the Centre is known as "The Centre for Women in Business at London Business School" ...
Famous quotes containing the words brothers and/or lehman:
“When we choose to be parents, we accept another human being as part of ourselves, and a large part of our emotional selves will stay with that person as long as we live. From that time on, there will be another person on this earth whose orbit around us will affect us as surely as the moon affects the tides, and affect us in some ways more deeply than anyone else can. Our children are extensions of ourselves in ways our parents are not, nor our brothers and sisters, nor our spouses.”
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—Ernest Lehman (b.1920)