FACTOID # 7: The top five best educated states are all in the Northeast.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Lehman Brothers Holdings
Lehman Brothers
Image:Lehman_logo.gif
Slogan Where Vision Gets Built
Type Public (NYSE: LEH)
Founded 1850
Headquarters New York, London, Tokyo
Key people Richard S. (Dick) Fuld, Jr., Chairman & CEO
Joseph M. (Joe) Gregory, President and COO
Industry Investment services
Products Financial Services
Investment Banking
Investment management
Revenue $32.420 billionUSD (2005)
Net income $3.36 Billion USD (2005)
Employees 23,000 (2006)
Website www.lehman.com

Lehman Brothers Holdings, Inc. NYSE: LEH, founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include: Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, BNC Mortgage, Inc., and the Crossroads Group. The Firm's worldwide headquarters are in New York City, with regional headquarters in London and Tokyo and offices throughout the world. Image File history File links Lehman_logo. ... Look up Slogan in Wiktionary, the free dictionary. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is one of the largest stock exchanges in the world. ... 1850 was a common year starting on Tuesday (see link for calendar). ... Official language(s) English de facto Capital Albany Largest city New York City Area  Ranked 27th  - Total 54,520 sq mi (141,205 km²)  - Width 285 miles (455 km)  - Length 330 miles (530 km)  - % water 13. ... London (pronounced ) is the capital city of England and the United Kingdom. ... Tokyo , literally Eastern capital)   is the capital of Japan. ... The Gorilla (nickname stuck after several investment bnakers referred to Fuld as such early in his career) Chairman and CEO of Lehman Brothers. ... Invest redirects here. ... To meet Wikipedias quality standards, this article may require cleanup. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Investment management, the professional management of various securities (shares, bonds etc) and other assets (e. ... Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links Green_Arrow_Up. ... The United States dollar is the official currency of the United States. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... This page as shown in the AOL 9. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... To meet Wikipedias quality standards, this article may require cleanup. ... Firm can have several meanings: Firm - a loose legal term for a company. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... It has been suggested that shareholder be merged into this article or section. ... In finance, a bond is a debt security, in which the issuer owes the holders a debt and is obliged to repay the principal and interest (the coupon) at a later date, termed maturity. ... Sales, or the activity of selling, forms an integral part of commercial activity. ... Market research is the process of systematic gathering, recording and analyzing of data about customers, competitors and the market. ... The Bombay Stock Exchange in India. ... Investment management, the professional management of various securities (shares, bonds etc) and other assets (e. ... Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... Private banking is a term which covers both of the services which banks give to individuals usually with liquid wealth of above 1 million dollars, and also the division of that entity which does checking, savings, and loans for that clientele. ... Primary dealers are banks or brokerage firms who may trade directly with the Federal Reserve System. ... Treasury Securities are bonds issued by the U.S. Treasury. ... A subsidiary of Lehman Brothers. ... The Crossroads Group is a Dallas-based private equity firm owned by Lehman Brothers. ... Nickname: Big Apple, City that never Sleeps Location in the state of New York Coordinates: Country United States State New York Boroughs Bronx (The Bronx) New York (Manhattan) Queens (Queens) Kings (Brooklyn) Richmond (Staten Island) Mayor Michael Bloomberg (R) Area    - City 1,214. ... London (pronounced ) is the capital city of England and the United Kingdom. ... Tokyo , literally Eastern capital)   is the capital of Japan. ...

Contents

History

Under the Lehman Family, 1850-1969

In 1844, twenty-three year old Henry Lehman emigrated from Rimpar, Germany to the United States, settling in Montgomery, Alabama, where he opened a dry goods store, simply titled "H. Lehman". Following Henry to the United States were brothers Emanuel in 1847 and Meyer, youngest of the three brothers, in 1850. In the 1850's Southern United States, "cotton was king"; one of the most important, if not the most, important crops in the country and before long the three brothers were routinely accepting raw cotton from customers as payment for merchandise. Before long they developed a successful second business trading in cotton, that within a few years grew to become the most significant part of their operation. Following Henry's untimely death from yellow fever in 1855, the remaining brothers continued to focus on their commodities trading and brokerage operations. Coordinates: Country United States State Alabama County Montgomery Incorporated December 3, 1819 Mayor Bobby Bright Area    - City 404. ...


By 1858, as the brothers witnessed the shift in cotton's center from the South to New York City, where factors and commission houses were based, Lehman Brothers opened its first branch office there, at 119 Liberty Street. Thirty-two year old Emanuel relocated to New York to run the office. In 1862, they teamed up with a prosperous cotton merchant named John Durr to form Lehman, Durr & Co. Following the American Civil War, the company helped finance Alabama's reconstruction. Soon, the Lehmans moved their headquarters to New York City where they helped found the New York Cotton Exchange in 1870; Emanuel would sit on the Board of Governors without interruption until 1884. The Firm also dealt in the emerging market for railroad bonds, and entered the financial advisory business. Combatants United States of America (Union) Confederate States of America (Confederacy) Commanders Abraham Lincoln, Ulysses S. Grant Jefferson Davis, Robert Edward Lee Strength 2,200,000 1,064,000 Casualties 110,000 killed in action, 360,000 total dead, 275,200 wounded 93,000 killed in action, 258,000 total... The New York Cotton Exchange (NYCE) was founded in 1870 by a group of one hundred cotton brokers and merchants at One Hanover Square in New York City, New York. ... This is the top-level page of WikiProject trains Rail tracks Rail transport refers to the land transport of passengers and goods along railways or railroads. ...


Lehman Brothers became members of the Coffee Exchange as early as 1883 and finally the New York Stock Exchange in 1887. The firm also began to develop international interests in Europe and Japan, as well as expertise in merchant banking. In 1899 they underwrote their first public offering, the preferred and common stock of the International Steam Pump Company. The New York Board of Trade (NYBOT) is a physical commodity futures exchange located in New York, New York. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... European redirects here. ... Merchant banking refers to investment by a bank in a non-financial business. ... In banking, underwriting is the detailed credit analysis preceding the granting of a loan, based on credit information furnished by the borrower, such as employment history, salary, and financial statements; publicly available information, such as the borrowers credit history, which is detailed in a credit report; and the lender...


Despite the 1899 offering of International Steam, the Firm's real shift from being a commodities house to a house of issue did not begin until 1906. The Firm was among the first to recognize the potential of issuing stock as a way for companies to raise capital, in contrast to the issuance of debt, which had historically been the method. In that year, under the guidance of Philip Lehman, the Firm partnered with Goldman, Sachs & Co., to bring the General Cigar Co. to market, followed closely by Sears, Roebuck & Company. During the following two decades, almost one hundred new issues were underwritten by Lehman Brothers, many times in conjunction with Goldman, Sachs. Among these were F.W. Woolworth Company, May Department Stores Company, Gimbel Brothers, Inc., R.H. Macy & Company, The Studebaker Corporation, The B.F. Goodrich Co. and Endicott Johnson Corporation Philip Lehman (November 9, 1861 - March 21, 1947) was an American investment banker. ... Goldman Sachs offices at the Fraumünsterplatz in Zürich (the light-colored building on the left) The Goldman Sachs Group, Inc. ... Sears Holdings Corporation NASDAQ: SHLD is the third largest retailer in the United States, behind Wal-Mart and The Home Depot. ... Foot Locker Inc NYSE: FL (formerly Z) is a United States company specialising in athletic footwear and clothing. ... May Department Stores was founded in 1877 by David May in Leadville, Colorado. ... Gimbels, now defunct, was for many years a well-known U.S. department store. ... Macys is a chain of American department stores with its flagship store in Herald Square, New York City, which has been billed as the worlds largest store since completion of the Seventh Avenue addition in 1924. ... Studebakers Lazy S logo, designed by Raymond Loewy, was used from the 1950s until 1966 The worlds largest living sign was planted at the Studebaker Proving Grounds, west of South Bend, Indiana. ... The Goodrich Corporation (formerly the B.F. Goodrich Company) NYSE: GR, based in Charlotte is an American aerospace manufacturing company. ... The Endicott Johnson Shoe Company (E-J) was a prosperous manufacturer of shoes based in New Yorks Southern Tier, with factories mostly located in the Tiers Triple Cities of Binghamton, Johnson City, and Endicott. ...


Following Philip Lehman's retirement in 1925, his son Robert "Bobbie" Lehman took over as head of the firm. Under his leadership, Lehman Brothers' rise to pre-eminence among New York investment firms began. The company weathered the capital crisis of the Great Depression by focusing on helping private funders and companies connect, while the equities market recovered. This was the foundation of today's venture capital industry. By 1928, the Firm had outgrown its premises in the Farmers Loan & Trust Building and moved to its now famous One William Street location. Robert Lehman (September 29, 1891 – August 9, 1969) was an American banker. ... The Great Depression was not a worldwide economic downturn which started in 1929 (although its effects were not fully felt until late 1930) and lasted through most of the 1930s. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ...


In 1929, the Firm created the Lehman Corporation, an investment company, wholly separate from Lehman Brothers, but with many common officers and directors. Years later, the Firm would characterize its first foray into asset management, via the Lehman Corporation, as "the most important single chapter in its history".


In the 1930s, Lehman Brothers underwrote the initial public offering (IPO) of the first television manufacturer, DuMont and helped fund the Radio Corporation of America (RCA). They also helped found the emerging oil industry, including the companies Halliburton and Kerr-McGee. In the 1950s, Lehman Brothers underwrote the IPO of Digital Equipment Corporation. Later, they would arrange the acquisition of Digital by Compaq. This article or section does not cite its references or sources. ... An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ... Manufacturing is the transformation of raw materials into finished goods for sale, or intermediate processes involving the production or finishing of semi-manufactures. ... DuMont Televisions Logo The DuMont Television Network was an American television network, beginning operation in 1946. ... RCA, formerly an initialism for the Radio Corporation of America, is now a trademark used by two companies for products descended from that common ancestor: Thomson Consumer Electronics, which manufactures RCA-branded televisions, DVD players, video cassette recorders, direct broadcast satellite decoders, camcorders, audio equipment, telephones, and related accessories; and... This article needs to be updated. ... The Kerr-McGee Corporation (NYSE: KMG) is an energy company involved in the exploration and production of oil and gas resources, as well as the manufacture of titanium dioxide (TiO2) pigment. ... The 1950s was the decade spanning the years 1950 to 1959. ... Wikipedia does not yet have an article with this exact name. ... Digital Equipment Corporation was a pioneering company in the American computer industry. ... Compaq was a personal computer company founded in 1982 by Rod Canion, Jim Harris and Bill Murto. ...


Robert Lehman also recognized that in order for the Firm to prosper and grow, it needed to look beyond family members as potential partners and look to the outside world. With that revelation, in 1924, John M. Hancock became the first non-family member to become a partner, followed by Monroe C. Gutman and Paul Mazur in 1927.


Robert Lehman died in 1969 and since that time, no member of the Lehman family has led the company. Robert's death left a void in the company, which coupled with a difficult economic environment, brought hard times to the Firm. In 1973, Pete Peterson, Chairman and Chief Executive Officer of the Bell & Howell Corporation, was brought in to save the Firm. This article is about the Pete Peterson who was a U.S. government official during the Nixon administration; there is also a Pete Peterson who was a former Florida Congressman and ambassador to Vietnam. ... Categories: Corporation stubs ...


Into the Arms of a Giant (1969-1994)

Under Peterson's leadership as Chairman and CEO, the Firm acquired Abraham & Co. in 1975, and two years later merged with the venerable, but struggling, Kuhn, Loeb & Co., to form Lehman Brothers, Kuhn, Loeb Inc. Peterson led the Firm from significant operating losses to five consecutive years of record profits with a return on equity among the highest in the investment banking industry. Kuhn, Loeb and Co. ... Lehman Brothers Kuhn Loeb Incorporated Lehman Brothers Kuhn Loeb represents the combined firms of Lehman Brothers and Kuhn, Loeb and Co. ...


Notwithstanding the Firm's success, hostilities between the Firm's investment bankers and traders (who were driving most of the Firm's profits) was becoming palpable. In response, in May 1983, Peterson promoted Lewis Glucksman, the Firm's President, COO and former trader, to be his co-CEO. Glucksman introduced changes in personnel, and in the determination of bonuses and partnership interests. These measures had the effect of increasing tensions, which when coupled with Glucksman’s management style and a downturn in the markets, created a bitter struggle for power in which Glucksman prevailed and Peterson was ousted, leaving Glucksman as the sole CEO. Lewis Glucksman (December 22, 1925 — July 5, 2006) was a former Lehman Brothers trader and former chief executive officer of Lehman Brothers, Kuhn, Loeb Inc. ...


Upset bankers, who had soured over the power struggle, left the company. Steve Schwarzman, chairman of the firm's M&A committee, recalled in a February 2003 interview with Private Equity International that "Lehman Brothers had an extremely competitive internal environment, which ultimately became dysfunctional." The company suffered under the disintegration, and Glucksman was pressured into selling the Firm to American Express in 1984, for $360 million. On May 11, the combined firms became Shearson Lehman/American Express. In 1988, Shearson Lehman/American Express and E.F. Hutton & Co. merged as Shearson Lehman Hutton Inc. Stephen A. Schwarzman is co-founder and CEO of the Blackstone Group. ... The phrase mergers and acquisitions or M&A refers to the aspect of corporate finance strategy and management dealing with the merging and acquiring of different companies. ... American Express (NYSE: AXP) is a diversified global financial services company, headquartered in New York City. ... E. F. Hutton & Co. ...


On Their Own Again (1994-present)

In 1993, under newly appointed CEO, Harvey Golub, American Express began to divest itself of its banking and brokerage operations. It sold its retail brokerage and asset management operations to Primerica and in 1994 it spun off Lehman Brothers Kuhn Loeb in an initial public offering, as Lehman Brothers Holdings Inc. Lehman Brothers Holdings Inc's. common stock commenced trading on the New York & Pacific stock exchanges, under the ticker symbol "LEH". Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... Harvey Golub was chairman of American Express (1994-2001) ... American Express (NYSE: AXP) is a diversified global financial services company, headquartered in New York City. ... Primerica Financial Services (PFS) is the name of a division of Citigroup, which engages in multi-level marketing of financial services, particularly life insurance. ... An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is the largest stock exchange in the world in dollar volume and second largest by number of companies listed. ... The Pacific Exchange is a regional stock exchange located in San Francisco, California. ...


Following their 1994 IPO, the company was repeatedly subject to rumors that it would be acquired; rumors the company regularly denied. Indeed, under the leadership of the Firm's CEO, Richard S. (Dick) Fuld, Jr., the firm has prospered, growing well beyond its initial strength in fixed income trading and research. The Gorilla (nickname stuck after several investment bnakers referred to Fuld as such early in his career) Chairman and CEO of Lehman Brothers. ...


Recovery from Disaster (9/11/2001)

On September 11, 2001, Lehman Brothers occupied three floors of 1 WTC where one employee was killed. Its global headquarters in Three World Financial Center were severely damaged and rendered unusable by falling debris, displacing over 6,500 employees. The bank recovered quickly and rebuilt its presence. Trading operations moved across the Hudson River to its Jersey City facilities, where an impromptu trading floor was built and brought online less than forty-eight hours after the attacks. When markets reopened on September 17, 2001, Lehman Brothers' sales and trading capabilities were restored. The World Trade Center on fire The September 11, 2001 attacks were a series of coordinated terrorist attacks against the United States on September 11, 2001. ... The North Tower of the World Trade Center in New York City was completed in 1972 at a height of 417 m (1368 feet), distinguishable from the southern tower (Two World Trade Center) by the huge antenna on the roof. ... Three World Financial Center Three World Financial Center is one of the largest skyscrapers in New York City, located on West Street between Liberty and Vesey Streets in Lower Manhattan. ... The skyline of Jersey City, as seen from Lower New York Bay. ...


In the ensuing months, Lehman Brothers fanned out its operations across the New York City metropolitan area in over forty temporary locations. Notably, the investment banking division converted the first floor lounges, restaurants, and all 665 guestrooms of the Sheraton Manhattan Hotel into office space. The bank also experimented with flextime (to share office space) and telecommuting via virtual private networking. In October of 2001, Lehman Brothers purchased a just-built 32-story facility from rival Morgan Stanley for a reported sum of $700 million. Morgan Stanley's world headquarters was located two blocks away at 1585 Broadway, and in the wake of the attacks, was re-evaluating its office plans which would have put over 10,000 employees in the Times Square area. Lehman Brothers began moving into the new facility in January and concluded in March 2002, a move that significantly boosted morale throughout the firm. Flextime plan is a general term to describe a variable work schedule in contrast to traditional work arrangements between employer and employee requiring a rigid number of hours worked per day or week. ... A Virtual Private Network, or VPN, is a private communications network usually used within a company, or by several different companies or organizations, communicating over a public network. ... Morgan Stanley (NYSE: MS) is an investment bank, retail broker, and credit card provider with headquarters in New York City. ...


Lehman Brothers was criticized for not moving back to its former headquarters in lower Manhattan. Following the attacks, only Deutsche Bank, Goldman Sachs, and Merrill Lynch remained in the area. The firm, however, points to the fact that it was committed to remaining in New York City, that the new headquarters presented an ideal circumstance where Lehman Brothers was desperate to buy and Morgan Stanley was desperate to sell, that when the new building was purchased, the structural integrity of Three World Financial Center had not yet been given a clean bill of health, and that in any case, the company could not have waited until May 2002 for repairs to Three World Financial Center to conclude. Deutsche Bank AG NYSE: DB (German for German Bank) is a multinational bank operating worldwide and employing more than 67,500 people (Dec. ... Goldman Sachs offices at the Fraumünsterplatz in Zürich (the light-colored building on the left) The Goldman Sachs Group, Inc. ... Merrill Lynch & Co. ... Three World Financial Center Three World Financial Center is one of the largest skyscrapers in New York City, located on West Street between Liberty and Vesey Streets in Lower Manhattan. ... Three World Financial Center Three World Financial Center is one of the largest skyscrapers in New York City, located on West Street between Liberty and Vesey Streets in Lower Manhattan. ...


After the attacks, Lehman Brothers' management placed increased emphasis on business continuity planning. Unlike its rivals, Lehman Brothers was unusually concentrated for a bulge bracket investment bank. For example, Morgan Stanley maintains a 750,000-square foot trading and banking facility in Westchester County, NY. The trading floor of UBS is located in Stamford, CT. Merrill Lynch's asset management division is located in Plainsboro, NJ. Aside from its headquarters in Three World Financial Center, Lehman Brothers maintained operations and backoffice facilities in Jersey City, space that the firm considered leaving prior to 9/11. The space was not only retained, but expanded, including the construction of backup trading facility. In addition, telecommuting technology first rolled out in the days following the attacks to allow employees to work from home has been expanded and enhanced for general use throughout the firm. This article includes how-to sections and may need to be edited to encyclopedic style. ... Morgan Stanley (NYSE: MS) is an investment bank, retail broker, and credit card provider with headquarters in New York City. ... Westchester is the name of some places in the United States of America: Westchester, Los Angeles, California Westchester, Florida Westchester, Illinois Westchester County, New York There are also some places written West Chester: West Chester, Ohio West Chester, Pennsylvania This is a disambiguation page — a navigational aid which lists... State nickname: Empire State Other U.S. States Capital Albany Largest city New York Governor George Pataki Official languages None Area 141,205 km² (27th)  - Land 122,409 km²  - Water 18,795 km² (13. ... UBS can refer to: UBS AG, a banking group Unbundled Bitstream Services United Building Society - the name of several financial institutions in different countries around the world. ... Stamford is a city located in Fairfield County, Connecticut, USA. As of the 2000 census, the city had a total population of 117,083. ... Merrill Lynch & Co. ... Three World Financial Center Three World Financial Center is one of the largest skyscrapers in New York City, located on West Street between Liberty and Vesey Streets in Lower Manhattan. ... The skyline of Jersey City, as seen from Lower New York Bay. ...


Today, the firm is a top competitor and is considered one of the most prestigious banking franchises in the US. Many consider it the 2nd/3rd best investment banking after Goldman Sachs/Morgan Stanley.


2003 SEC Litigation

In 2003, Lehman Brothers was one of ten firms which simultaneously entered into a settlement with the U.S. Securities and Exchange Commission (SEC), the Office of the New York State Attorney General and various other securities regulators, regarding undue influence over the each firms research analysts by their investment banking divisions. Specifically, regulators alleged that the firms had: improperly associated analyst compensation with the firms' investment banking revenues; and, promised favorable, marketing-moving, research coverage, in exchange for underwriting opportunities. The settlement, known as the “global settlement”, provided for total financial penalties of $1.4 billion, including $80 million against Lehman Brothers, and structural reforms, including, a complete separation of investment banking departments from research departments, no analyst compensation, directly or indirectly, from investment banking revenues, and the provision of free, independent, third-party, research to the firms' clients. 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... The U.S. Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ... See also Attorney General. ... This article or section may be confusing or unclear for some readers, and should be edited to rectify this. ...


Reference Information

Board of Directors

The Gorilla (nickname stuck after several investment bnakers referred to Fuld as such early in his career) Chairman and CEO of Lehman Brothers. ... John Fellows Akers (born 1934) is a U.S. computer businessman. ... Roger S. Berlind (1931-) is a New York City theatrical producer and director of Lehman Brothers Holdings Inc. ... Chris Gent was the CEO of Vodafone, a British cell-phone company. ... Henry Kaufman is President of Henry Kaufman & Company Inc. ...

Senior Management

  • Richard S, Fuld, Jr., Chairman and Chief Executive Officer
  • Jasjit S. Bhattal, Chief Executive Officer, Asia
  • Michael Gelband, Global Head of Fixed Income
  • David Goldfarb, Chief Administrative Officer
  • Joseph M. Gregory, President and Chief Operating Officer
  • Jeremy M. Isaacs, Chief Executive Officer, Europe & Asia
  • Theodore P. Janulis, Global Head of Mortgage Capital
  • Stephen M. Lessing, Head of Client Relationship Management
  • Hugh E. McGee III, Global Head of Investment Banking
  • Herbert H. McDade III, Global Head of Equities Investment Banking
  • Roger B. Nagioff, Chief Operating Officer, Europe
  • Christopher O'Meara, Chief Financial Officer
  • Thomas A. Russo, Vice Chairman/Chief Legal Officer
  • George H. Walker, IV, Global Head of Investment Management

The Gorilla (nickname stuck after several investment bnakers referred to Fuld as such early in his career) Chairman and CEO of Lehman Brothers. ... George Herbert Walker IV is a managing director at Goldman Sachs and a second cousin to U.S. President George W. Bush. ...

Partners

At 134 years old, the 72 partners of Lehman Brothers formed Wall Street's oldest partnership when it was acquired by American Express in 1984. Listed below, is a partial list of the firm's partners.

  • Henry Lehman (1850-1855)
  • Emanuel Lehman (1850-1907)
  • Mayer Lehman (1850-1897)
  • Meyer H. Lehman (1880-1904)
  • Sigmund M. Lehman (1882-1908)
  • Philip Lehman (1885-1947)
  • Arthur Lehman (1901-1936)
  • Harold M. Lehman (1914-1933)
  • Thomas Hitchcock, Jr. (1937-1944)
  • Herbert H. Lehman (1908-1928)
  • Edward J. Bermingham (1936-1939)
  • Frederich L. Schuster (1943-1948)
  • Arthur H. Bunker (1945-1949)
  • Robert Lehman (1921-1969)
  • Allan S. Lehman (1908-?)
  • John M. Hancock** (1924-?)
  • Monroe C. Gutman (1927-?)
  • Paul Mazur (1927-?)
  • William J. Hammerslough (1930-?)
  • John D. Hertz (1934-1961)
  • Joseph A. Thomas (1937-?)
  • John R. Fell (1940-?)
  • William S. Glazier (1940-?)
  • Frederick L. Ehrman (1941-?)
  • Harold J. Szold (1941-?)
  • Philip Isles (1941-?)
  • Paul E. Manheim (1944-?)
  • Francis A. Callery (1950-?)
  • Herman H. Kahn (1950-?)
  • Morris Natelson (1950-1972)
  • Jerome S. Katzin (1977-1984)
  • Harvey M. Krueger (1977-1984)

** First non-family member to be admitted to the partnership. Philip Lehman (November 9, 1861 - March 21, 1947) was an American investment banker. ... Herbert Lehman Herbert Henry Lehman (March 28, 1878 – December 5, 1963) was a Democratic Party politician from the U.S. state of New York. ... Robert Lehman (September 29, 1891 – August 9, 1969) was an American banker. ... John Hertz, 1899 John D. Hertz (April 10, 1879 - 1961) was an American businessman, thoroughbred racehorse owner, and philanthropist. ...


Principal Locations (first year of occupancy)

  • 17 Court Square, Montgomery, Alabama (1847)*
  • 119 Liberty Street, New York, NY (1858)
  • 176 Fulton Street, New York, NY (1865-1866?)
  • 133-35 Pearl Street, New York, NY (1867)
  • 40 Exchange Place, New York, NY (1876)
  • The Farmers Loan & Trust Company Building, 16 William Street, New York, NY (1892)
  • One William Street, New York, NY (1928) **
  • 55 Water Street, New York, NY (1980) ***
  • 3 World Financial Center, New York, NY
  • 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".
** Designated as a landmark by the New York City Landmarks Preservation Committee in 1996.
*** Sales and trading personnel had been in this location since 1977, when they were joined by the firm's investment bankers and brokers. One William Street. ...


Worldwide locations

Americas

  • New York, (Global Headquarters)
  • Atlanta, GA
  • Boston, MA
  • Chicago, IL
  • Dallas, TX
  • Denver, CO
  • Florham Park, NJ
  • Gaithersburg, MD
  • Hoboken, NJ
  • Houston, TX
  • Irvine, CA
  • Jersey City, NJ
  • Los Angeles, CA
  • Menlo Park, CA
  • Mexico City
  • Miami, FL
  • Montevideo
  • Newport Beach, CA
  • New York, NY
  • Palm Beach, FL
  • Philadelphia, PA
  • Salt Lake City, UT
  • San Francisco, CA
  • San Juan, PR
  • Scottsbluff, NE
  • Seatlle, WA
  • Tampa, FL
  • Washington, DC
  • Wilmington, DE

Europe

  • London, (Regional Headquarters)
  • Amsterdam
  • Frankfurt
  • Luxembourg
  • Madrid
  • Milan
  • Paris
  • Rome
  • Tel Aviv
  • Zurich

Asia Pacific

  • Tokyo, (Regional Headquarters)
  • Bangkok
  • Beijing
  • Hong Kong
  • Mumbai
  • Seoul
  • Singapore
  • Taiwan

Notable current and former employees

Business

British businessman, financier and venture capitalist Born 1966. ... Joaquin Avila is a Managing Director of the global private equity firm, Carlyle Group, where he is responsible for researching and discovering opportunities in the field of buyout investments. ... The Carlyle Group is a Washington, D.C. based global private equity investment firm with more than USD$40 billion of equity capital under management. ... Louis Moore Bacon (born 1956) is a Hedge fund manager and commodities trader . ... Peter Miller Dawkins (born March 8, 1938 in Royal Oak, Michigan) is a former U.S. Army Brigadier General, Heisman Trophy winner, Rhodes Scholar, and businessman. ... John Hertz, 1899 John D. Hertz (April 10, 1879 - 1961) was an American businessman, thoroughbred racehorse owner, and philanthropist. ... The Hertz Corporation (also known as Hertz Rent A Car or simply Hertz) is the worlds largest car rental company, with 1,900 locations in the United States and 5,100 worldwide. ... Jeffrey Peterson (born October 11, 1972 in Santa Barbara, California) is an American technology entrepreneur and Arizona millionaire who is considered the pioneer of Hispanic Internet in the United States. ... Peter Schiff, a frequent guest on CNBC and Bloomberg Television and frequently quoted in major publications, he is the president of Euro Pacific Capital Inc. ... Stephen A. Schwarzman is co-founder and CEO of the Blackstone Group. ... David Swensen is the Chief Investment Officer at Yale University since 1985, where he is responsible for managing and investing more than $15 billion of the universitys endowment assets and investment funds. ... Yale redirects here. ...

Politics and public service

Jeffrey Garten Jeffrey E. Garten (born October 29, 1946) was the Undersecretary of Commerce for International Trade under the Clinton administration and former Dean of the Yale School of Management. ... Ernest G. Green (born September 22, 1941) was one of the Little Rock Nine, a group of African-American students who, in 1957, were the first black students ever to attend classes at Little Rock Central High School in Little Rock, Arkansas, U.S.A.. Green, the eldest of the... The Little Rock Nine and Daisy Bates The Little Rock Nine depicted in Testament, a 2005 sculpture by John and Cathy Deering, on the grounds of the Arkansas State Capitol [1] The Little Rock Nine is the common term applied to the nine African-American students who were prevented from... Richard Charles Albert Holbrooke (born April 24, 1941) has had a varied career as a professional American diplomat, magazine editor, author, Peace Corps director, and investment banker. ... The United Nations (UN) is an international organization whose stated aims are to facilitate co-operation in international law, international security, economic development, and social equity. ... Bruce Jackson is the president of the U.S. Committee on NATO. Professional Positions  Served in the U.S. Army as a Military Intelligence Officer, 1979-1980  Served in the Office of the Secretary of Defense, 1986-1990, holding a variety of positions pertaining to nuclear forces and arms control. ... James A. Johnson is a United States Democratic Party political figure. ... John Richard Kasich (born May 13, 1952, McKees Rocks, Pennsylvania) is a former American politician of Croatian descent turned television show host for FOX News Channel in the United States. ... Herbert Henry Lehman (March 28, 1878 - December 5, 1963) was a Governor and Senator from New York. ... Petersons official portrait as Commerce Secretary Peter George Peterson (born June 5, 1926 to Greek immigrant parents) is a businessman, investment banker, fiscal conservative, author, and politician whose most prominent political position was as United States Secretary of Commerce from February 29, 1972 to February 1, 1973. ... Steven C. Preston (born ca. ... Felix G. Rohatyn (born May 29, 1928 in Vienna, Austria) is a Jewish-American businessman and investment banker and has also served in public service. ... James Rodney Schlesinger (born 15 February 1929) was United States Secretary of Defense from 1973 to 1974 under presidents Richard Nixon and Gerald Ford. ... Kathleen Kennedy Townsend Kathleen Hartington Kennedy Townsend (born July 4, 1951) was lieutenant governor of the U.S. state of Maryland from 1995 to 2003. ...

Other

Andrew Gowers was appointed editor of the Financial Times in October 2001. ... The Financial Times (FT) is an international business newspaper printed on distinctive salmon pink broadsheet paper. ... Jack H. Jacobs (b. ... Hadassah Lieberman (born Hadassah Freilich) is the wife of Senator Joseph Lieberman. ... Joseph Isadore Joe Lieberman (born February 24, 1942) is a Jewish American politician from Connecticut and a leading member of the anti-Palestinian lobby. ... Ultimate (often called ultimate Frisbee) is a competitive non-contact team sport played with a flying disc. ...

External links

History

  • Lehman Brothers - History
  • Citigroup's ancestor companies 1812 - 2000

References

  • Schack, Justin. (May 2005). "Restoring the House of Lehman". Institutional Investor, p. 24-32.
  • Auletta, Ken. Greed and Glory on Wall Street: The Fall of the House of Lehman. Random House, 1985
  • Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997
  • Lehman Brothers. A Centennial - Lehman Brothers 1850 - 1950. Spiral Press, 1950
  • Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m