Lehman Brothers
Type	Public NYSE: LEH
Founded	Montgomery, Alabama (1850)
Headquarters	New York City
Key people	Richard S. Fuld, Jr., Chairman & CEO Joseph M. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. Montgomery (məntˈgəmɜriː is the Capital, second most populous city and the 4th most populous metropolitan area in the Southern U For the game see 1850 (board game. 1850 ( MDCCCL) was a Common year starting on Tuesday (link The City of New York Richard Severin Fuld Jr (born April 26 1946 New York, New York) is the Chairman and Chief Executive Officer of Lehman Brothers Gregory, President and COO
Industry	Investment services
Products	Financial Services Investment Banking Investment management
Revenue	▲$59. For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Investment or investing is a term with several closely-related meanings in Business management, Finance and Economics, related to saving In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Financial services refer to services provided by the finance industry. Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services 003 billionUSD (2007)
Net income	▲$4. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. 192 billion USD (2007)
Employees	28,500 (2007)
Website	www.lehman.com

Lehman Brothers Holdings Inc. The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. For the game see 1850 (board game. 1850 ( MDCCCL) was a Common year starting on Tuesday (link Financial services refer to services provided by the finance industry. A corporation is a separate legal entity usually used to conduct business As a top bulge bracket firm, it holds leadership positions in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. Bulge bracket is a phrase associated with Finance, in particular the Investment banking industry Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and Software for Fixed assets management and Stock control developed in 2004. In Finance, a bond is a Debt security, in which the authorized issuer owes the holders a debt and is obliged to repay the principal and Interest Market research is the process of systematically gathering recording and analyzing data and information about Customers, Competitors and the Market A stock trader or a stock investor is an Individual or firm who buys and sells Stocks or bonds (and possibly other In Finance, private equity is an Asset class consisting of equity Securities in operating companies that are not Publicly traded on Private banking is a term for Banking Investment and other Financial services provided by banks to private individuals investing sizable assets It is a primary dealer in the U. A primary dealer is a Bank or securities Broker-dealer that may trade directly with the Federal Reserve System of the United States. S. Treasury securities market. Treasury securities are Government bonds issued by the United States Department of the Treasury through the Bureau of the Public Debt. Its primary subsidiaries include: Lehman Brothers Inc. , Neuberger Berman Inc., Aurora Loan Services, Inc. Neuberger Berman Inc, through its subsidiaries primarily Neuberger Berman LLC, is an Investment -advisory firm founded in 1939 by Roy R , SIB Mortgage Corporation, Lehman Brothers Bank, FSB, and the Crossroads Group. The Crossroads Group was a Dallas -based Private equity Fund of funds firm focusing on Venture capital investments The firm's worldwide headquarters are in New York City, with regional headquarters in London and Tokyo, as well as offices located throughout the world. The City of New York London ( ˈlʌndən is the capital and largest urban area in the United Kingdom. officially, is one of the 47 prefectures of Japan and located on the eastern side of the main island Honshū.

Contents 1 History 1.1 Under the Lehman family, 1850–1969 1.2 Merger with American Express (1969–94) 1.3 Divestment and independence (1994–present) 1.4 Response to September 11 terrorist attacks 1.5 2003 SEC litigation 2 Reference information 2.1 Board of Directors 2.2 Senior management 2.3 Partners 2.4 Principal locations (first year of occupancy) 2.5 Worldwide locations 3 Notable current and former employees 3.1 Business 3.2 Politics and public service 3.3 Other 4 See also 5 External links 5.1 History 6 References 6.1 Further Reading 6.2 Footnotes

History

Under the Lehman family, 1850–1969

In 1844, 23-year-old Henry Lehman, the son of a cattle merchant, emigrated to the United States from the town of Rimpar, in the German state of Bavaria. Rimpar is a Market town in the district of Würzburg in the German state of Bavaria. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. Bavaria ( German:, with an area of 70553 Km² (27241 square miles and almost 12 He settled in Montgomery, Alabama, where he opened a dry goods store, "H. Montgomery (məntˈgəmɜriː is the Capital, second most populous city and the 4th most populous metropolitan area in the Southern U Lehman". In 1847, following the arrival of Emanuel Lehman, the Firm became "H. Lehman and Bro. " With the arrival of their youngest brother, Mayer Lehman, in 1850, the Firm changed its name again and "Lehman Brothers" was founded.

In the 1850s Southern United States, cotton was one of the most important crops. The Southern United States &mdashcommonly referred to as the American South, Dixie, or simply the South &mdashconstitutes a large distinctive Cotton is a soft staple Fibre that grows around the seeds of the cotton plant ( Gossypium sp Capitalizing on cotton's high market value, the three brothers began to routinely accept raw cotton from customers as payment for merchandise, eventually beginning a second business trading in cotton. Barter is a type of Trade in which goods or services are directly exchanged Within a few years this business grew to become the most significant part of their operation. Following Henry's death from yellow fever in 1855, the remaining brothers continued to focus on their commodities trading and brokerage operations. Yellow fever (also called yellow jack, black vomit or sometimes American Plague) is an acute viral disease

By 1858, the center of cotton trading had shifted from the South to New York City, where factors and commission houses were based. Year 1858 ( MDCCCLVIII) was a Common year starting on Friday (link will display the full calendar of the Gregorian Calendar (or a Common A factor, from the Latin "he who does" (parallel to agent, from Latin agens) is a person who professionally acts as the representative of another individual Lehman Brothers opened its first branch office there at 119 Liberty Street, and thirty-two year old Emanuel relocated to New York to run the office. Liberty Street was a Canadian drama television series which aired on CBC Television in 1995. In 1862, facing difficulties as a result of the Civil War, the firm teamed up with a cotton merchant named John Durr to form Lehman, Durr & Co. Causes of the war See also Origins of the American Civil War, Timeline of events leading to the American Civil War The coexistence of a slave-owning South Following the war the company helped finance Alabama's reconstruction. The firm's headquarters were eventually moved to New York City, where they helped found the New York Cotton Exchange in 1870; Emanuel would sit on the Board of Governors until 1884. 1 Hanover Square also known variously as the New York Cotton Exchange and the India House is in lower Manhattan, New York City, New The firm also dealt in the emerging market for railroad bonds and entered the financial advisory business.

Lehman Brothers became members of the Coffee Exchange as early as 1883 and finally the New York Stock Exchange in 1887. The New York Board of Trade (NYBOT is a wholly-owned subsidiary of IntercontinentalExchange (ICE The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. In 1899 they underwrote their first public offering, the preferred and common stock of the International Steam Pump Company.

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. In that year, under Philip Lehman, the Firm partnered with Goldman, Sachs & Co., to bring the General Cigar Co. Philip Lehman (November 9 1861 March 21 1947 was an American Investment banker. The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities to market, followed closely by Sears, Roebuck and Company. Sears Roebuck and Company, commonly known as Sears, is an American mid-range chain of International Department stores founded by Richard 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. The F W Woolworth Company (often referred to as Woolworth's) was a retail company that was one of the original American five-and-dime stores The May Department Stores Company was a national Department store chain in the United States, founded in 1877 by David May Gimbel Brothers (Gimbels was an iconic major American Department store corporation from 1887 through the late 20th century Macy's is a chain of mid-range American Department stores Its Flagship store in Herald Square, New York City has been billed Studebaker Corporation, or simply Studebaker, was a United States Wagon and Automobile manufacturer based in Goodrich Corporation (formerly the BF Goodrich Company), is an American Aerospace manufacturing company based in Charlotte North Carolina The Endicott-Johnson Shoe Company (" E-J " was a prosperous manufacturer of Shoes based in New York 's Southern Tier, with factories mostly

Following Philip Lehman's retirement in 1925, his son Robert "Bobbie" Lehman took over as head of the firm. Herbert Henry Lehman (March 28 1878 December 5 1963 was a Democratic Party politician from the U The United States Senate is the Upper house of the bicameral United States Congress, the Lower house being the House of Representatives Robert Lehman (September 29 1891 August 9 1969 was an American banker During Bobbie's tenure, the company weathered the capital crisis of the Great Depression by focusing on venture capital while the equities market recovered. Venture capital (also known as VC or Venture) is a type of Private equity capital typically provided to immature high-potential growth companies By 1928, the firm moved to its now famous One William Street location. One William Street is an office building located in New York City.

In the 1930s, Lehman Brothers underwrote the initial public offering of the first television manufacturer, DuMont, and helped fund the Radio Corporation of America (RCA). The 1930s were described as an abrupt shift to more radical and conservative lifestyles as countries were struggling to find a solution to the Great Depression. Initial public offering (IPO, also referred to simply as a "public offering" is when a company issues Common stock or shares to the public for the first Television ( TV) is a widely used Telecommunication medium for sending ( Broadcasting) and receiving moving Images, either monochromatic Manufacturing (from Latin manu factura, "making by hand" is the use of tools and labor to make things for use or sale The DuMont Television Network was the world's first commercial Television network, beginning operation in the United States in 1946 RCA Corporation, founded as Radio Corporation of America, was an electronics company in existence from 1919 to 1986 They also helped finance the rapidly growing oil industry, including the companies Halliburton and Kerr-McGee. Halliburton Energy Services ( is a US -based Multinational corporation with operations in more than 70 countries The Kerr-McGee Corporation was an energy company involved in the exploration and production of oil and gas resources In the 1950s, Lehman Brothers underwrote the IPO of Digital Equipment Corporation. The 1950s Decade refers to the years of 1950 to 1959 inclusive Digital Equipment Corporation was a pioneering American company in the Computer industry Later, they would arrange the acquisition of Digital by Compaq. Compaq Computer Corporation was an American Personal computer company founded in 1982 and is now a brand name of Hewlett-Packard.

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. Peter George Peterson (born June 5, 1926) is an American businessman Investment banker fiscal conservative, author and politician whose most Böwe Bell & Howell is a US -based former Manufacturer of Motion picture machinery

Merger with American Express (1969–94)

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. Kuhn Loeb & Co was an investment bank founded in 1867 by Abraham Kuhn and Solomon Loeb. , the country's fourth largest investment bank, behind Salomon Brothers, Goldman Sachs and First Boston. This article deals with Salomon Brothers For other uses of the name Salomon see Salomon. First Boston Corporation was a New York-based Investment bank, founded in 1932 and acquired by Credit Suisse in 1988 when it became 'CS First Boston' ^[1] 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.

However, hostilities between the firm's investment bankers and traders (who were driving most of the firm's profits) prompted Peterson to promote Lewis Glucksman, the firm's President, COO and former trader, to be his co-CEO in May 1983. Investment banks profit from companies and governments by raising money through issuing and selling Securities in the Capital markets (both equity and Lewis L Glucksman ( December 22, 1925 — July 5, 2006) was a former Lehman Brothers trader and former chief executive officer of Glucksman introduced a number of changes that had the effect of increasing tensions, which when coupled with Glucksman’s management style and a downturn in the markets, resulted in a power struggle that ousted Peterson and left Glucksman as the sole CEO.

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. Stephen Allen Schwarzman (born February 14, 1947 is a billionaire American businessman and investor and the chairman and co-founder of the Blackstone " The company suffered under the disintegration, and Glucksman was pressured into selling the firm to Shearson, an American Express backed electronic transaction company, in 1984, for $360 million. American Express ( sometimes known as " AmEx " or " Amex " is a diversified global Financial services company headquartered in 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. E F Hutton & Co was an American stock brokerage firm founded in 1904 by Edward Francis Hutton, his brother Franklyn Laws Hutton, and

Divestment and independence (1994–present)

In 1993, under newly appointed CEO, Harvey Golub, American Express began to divest itself of its banking and brokerage operations. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Harvey Golub is the Chairman of the Board at the Campbell Soup Company as of January 2006 American Express ( sometimes known as " AmEx " or " Amex " is a diversified global Financial services company headquartered in 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. Primerica Financial Services (PFS is a financial services company and is headquartered in Duluth, Georgia. Initial public offering (IPO, also referred to simply as a "public offering" is when a company issues Common stock or shares to the public for the first

Despite rumors that it would be acquired again, Lehman Brothers performed quite well under CEO Richard S. Fuld, Jr.. Richard Severin Fuld Jr (born April 26 1946 New York, New York) is the Chairman and Chief Executive Officer of Lehman Brothers In 2001, the firm acquired the private client services, or "PCS", business of Cowen & Co. and later, in 2003, aggressively re-entered the asset management business, which it had exited in 1989. Cowen Group Inc, ( is the holding company for Cowen and Company LLC a U Beginning with $2 billion in assets under management, the firm acquired The Crossroads Group, the fixed-income division of Lincoln Capital Management and Neuberger Berman. Neuberger Berman Inc, through its subsidiaries primarily Neuberger Berman LLC, is an Investment -advisory firm founded in 1939 by Roy R These businesses, together with the PCS business and Lehman's private equity business, comprise the Investment Management Division, which generated approximately $3. 1 billion in net revenue and almost $800 million in pre-tax income in 2007. The firm currently has in excess of $275 billion in assets under management. Altogether, since going public in 1994, the firm has increased net revenues over 600% from $2. 73 billion to $19. 2 billion and increased employee headcount over 230% from 8,500 to almost 28,600.

The firm has had difficulties as well. In August 2007, the firm closed its subprime lender, BNC Mortgage, eliminating 1,200 positions, in 23 locations and took an after-tax charge of $25 million and a $27 million reduction in goodwill. Lehman said that poor market conditions in the mortgage space "necessitated a substantial reduction in its resources and capacity in the subprime space". ^[2]

Response to September 11 terrorist attacks

On September 11, 2001, Lehman Brothers occupied three floors of 1 WTC where one employee was killed. Events 9 - The Battle of the Teutoburg Forest ends 506 - The Bishops of Visigothic Gaul Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. Its global headquarters in Three World Financial Center were severely damaged and rendered unusable by falling debris, displacing over 6,500 employees. Three World Financial Center is one of the thirty tallest Skyscrapers in New York City, located on West Street between Liberty Street and Vesey 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. Jersey City is a city in Hudson County, New Jersey, United States. When stock markets reopened on September 17, 2001, Lehman Brothers' sales and trading capabilities were restored.

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. Flextime (or flexitime, flexi-time, originally derived from the German word which literally means 'sliding time' is a variable work Schedule In October 2001, Lehman Brothers purchased a 32 story, 1,050,000 square foot office building. The building, located at 745 Seventh Avenue, had recently been built, and not yet occupied, by rival, Morgan Stanley, for a reported sum of $700 million. Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States With Morgan Stanley's world headquarters located only two blocks away, at 1585 Broadway, in the wake of the attacks, the firm 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.

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. Deutsche Bank AG (literally "German Bank" ˈdɔɪtʃə,) is an international Universal bank with a broad private clients franchise headquartered in The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities Merrill Lynch & Co Inc () is a global financial services firm 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. Three World Financial Center is one of the thirty tallest Skyscrapers in New York City, located on West Street between Liberty Street and Vesey Three World Financial Center is one of the thirty tallest Skyscrapers in New York City, located on West Street between Liberty Street and Vesey

After the attacks, Lehman Brothers' management placed increased emphasis on business continuity planning. Business Continuity Planning ( BCP) is an Interdisciplinary Concept used to create and validate a practiced Logistical Plan for how 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. Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States Westchester County is a primarily Suburban county located in the U New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous The trading floor of UBS is located in Stamford, Connecticut. UBS AG ( SWX: UBSN) is a diversified global financial services company with its main headquarters in Basel & Zürich, Switzerland Stamford is a city in Fairfield County, Connecticut, United States. Merrill Lynch's asset management division is located in Plainsboro Township, New Jersey. Merrill Lynch & Co Inc () is a global financial services firm Plainsboro Township is a township in Middlesex County, New Jersey, United States. 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. Three World Financial Center is one of the thirty tallest Skyscrapers in New York City, located on West Street between Liberty Street and Vesey Jersey City is a city in Hudson County, New Jersey, United States. 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. ^[3]

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 each firms' research analysts by their investment banking divisions. Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. The US Securities and Exchange Commission (commonly known as the SEC) is an independent agency of the United States government which holds primary responsibility The New York State Attorney General is the chief legal officer of the State of New York. Specifically, regulators alleged that the firms had improperly associated analyst compensation with the firms' investment banking revenues and, promised favorable, market-moving, research coverage, in exchange for underwriting opportunities. The settlement, known as the “global settlement”, provided for total financial penalties of $1. The Global Settlement was an enforcement agreement reached on April 23, 2003 between the SEC, NASD, NYSE, and ten of the United 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.

Reference information

Board of Directors

• Richard S. Fuld, Jr., Chairman and Chief Executive Officer
• Michael L. Richard Severin Fuld Jr (born April 26 1946 New York, New York) is the Chairman and Chief Executive Officer of Lehman Brothers Ainslie
• John F. Akers
• Roger S. Berlind
• Thomas Cruikshank
• Marsha Johnson Evans
• Sir Christopher Gent
• Roland A. John Fellows Akers (born December 28 1934 is a US Computer businessman currently on the Board of Directors of Lehman Brothers. Roger S Berlind (born 1931 is a New York City Theatrical producer and director of Lehman Brothers Holdings Inc Thomas H Cruikshank is a former Chairman and CEO of Halliburton Energy Services from 1989 to 1995 Sir Christopher Charles Gent (born 10 May 1948 in Gosport) is the former chief executive officer of Vodafone, a British Mobile phone company Hernandez
• Dr. Henry Kaufman
• John D. Macomber

Senior management

• Richard S. Fuld, Jr., Chairman and Chief Executive Officer
• Jasjit S. Henry Kaufman (born 1927 in Germany) is a Jewish American Economist and Financial consultant. John D Macomber (born January 13 1928 in Rochester New York is the principal of JDM Investment Group and was the President of the Export-Import Bank of the United States Richard Severin Fuld Jr (born April 26 1946 New York, New York) is the Chairman and Chief Executive Officer of Lehman Brothers Bhattal, Chief Executive Officer, Asia
• Erin Callan, Chief Financial Officer
• Scott J. Freidheim, Co-Chief Administrative Officer
• David Goldfarb, Global Head of Strategic Partnerships, Principal Investing and Risk
• Joseph M. Scott Jon Freidheim (born July 31 1965) was a Managing Director CAO and Executive Vice President of Lehman Brothers Holdings Inc Gregory, President and Chief Operating Officer
• Jeremy M. Isaacs, Chief Executive Officer, Europe & Asia
• Benoit Savoret, Chief Operating Officer, Europe & Asia
• Theodore P. Janulis, Global Head of Mortgage Capital
• Stephen M. Lessing, Head of Client Relationship Management
• Ian T. Lowitt, Co-Chief Administrative Officer
• Herbert H. McDade III, Global Head of Equities
• Hugh E. McGee III, Global Head of Investment Banking
• Andy Morton, Global Head of Fixed Income
• Thomas A. Russo, Vice Chairman/Chief Legal Officer
• George H. Walker, IV, Global Head of Investment Management

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. George Herbert Walker IV (born April 1969 is a Managing Director at Lehman Brothers and is a second cousin to U American Express ( sometimes known as " AmEx " or " Amex " is a diversified global Financial services company headquartered in 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. Philip Lehman (November 9 1861 March 21 1947 was an American Investment banker. Lehman (1914-1933) Thomas Hitchcock, Jr. (1937-1944) Herbert H. Lehman (1908-1928) Edward J. Herbert Henry Lehman (March 28 1878 December 5 1963 was a Democratic Party politician from the U Bermingham (1936-1939) Frederich L. Schuster (1943-1948) Arthur H. Bunker (1945-1949) Robert Lehman (1921-1969) Allan S. Robert Lehman (September 29 1891 August 9 1969 was an American banker Lehman (1908-?) John M. Hancock** (1924-?)

Monroe C. Gutman (1927-?) Paul Mazur (1927-?) William J. Hammerslough (1930-?) John D. Hertz (1934-1961) Joseph A. John Daniel Hertz ( April 10, 1879 - October 8, 1961) was an American Businessman, thoroughbred racehorse owner 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.

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)
• 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
• 745 Seventh Avenue, New York, NY (2002)

* Henry Lehman established his first store location on Commerce Street, in Montgomery, in 1845. One William Street is an office building located in New York City. The World Financial Center is a complex of buildings across West Street from the World Trade Center site in Lower Manhattan in New York City, 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.

Worldwide locations

Americas New York, (Global Headquarters) Atlanta, GA Boston, MA Buenos Aires Calgary, AB Chicago, IL Dallas, TX Denver, CO Florham Park, NJ Gaithersburg, MD Greenwich Hoboken, NJ Houston, TX Irvine, CA Jersey City, NJ Lake Forest Los Angeles, CA Menlo Park, CA Mexico City Miami, FL Montevideo Newport Beach, CA New York, NY Palm Beach, FL Philadelphia, PA San Francisco, CA San Juan, PR São Paulo Scottsbluff, NE Seattle, WA Tampa, FL Toronto, ON Washington, DC Wilmington, DE

Europe London, (Regional Headquarters) Amsterdam Frankfurt Geneva Istanbul Luxembourg Madrid Milan Moscow Paris Qatar Rome Stockholm Tel Aviv Umeå Zurich

Asia Pacific Tokyo, (Regional Headquarters) Bangkok Beijing Dubai Hong Kong Melbourne Mumbai - India Seoul Shanghai Singapore Sydney Taipei

Notable current and former employees

Business

• Boris Adlam - venture capitalist
• Joaquin Avila - managing director of the Carlyle Group
• Louis Bacon - hedge fund manager
• Pete Dawkins - Citigroup executive
• Steven Gluckstern - investor and former co-owner of the New York Islanders ^[4]
• F. Boris Adlam (born 1966 is a British Businessman, Financier and Venture capitalist. Joaquin Avila is Managing Director of the global private equity firm Carlyle Group, where he is responsible for researching and discovering opportunities in the field The Carlyle Group is a global Private equity investment firm based in Washington D Louis Moore Bacon (born 1956 is an American Hedge fund manager and commodities trader who uses a Global macro strategy A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment Peter Miller Dawkins (b March 8 1938, Royal Oak Michigan) is a former Heisman Trophy winner Rhodes Scholar, U The New York Islanders are a professional Ice hockey team based in Uniondale, New York. Warren Hellman - Chairman and co-founder of Hellman and Friedman
• John D. Hertz - founder of The Hertz Corporation
• Ejovi Nuwere - entrepreneur
• Jeffrey Peterson - entrepreneur
• Peter Schiff - financial analyst
• Stephen A. Schwarzman, Chief Executive Officer and co-founder of the Blackstone Group
• David Swensen - chief investment officer of Yale University
• Jeffrey Vanderbeek - owner of the New Jersey Devils hockey team

Politics and public service

• Roger Altman - former Deputy Treasury Secretary under Bill Clinton, founder of Evercore Partners
• John Ellis "Jeb" Bush - 43rd Governor of Florida and brother of U.S. President, George Walker Bush
• Daniel Doctoroff - President of Bloomberg LP, former New York City Deputy Mayor for Economic Development and Rebuilding. John Daniel Hertz ( April 10, 1879 - October 8, 1961) was an American Businessman, thoroughbred racehorse owner The Hertz Corporation (also known as Hertz Rent A Car or simply Hertz) is the largest general-use Car rental company in the world with 1900 locations Jeffrey Peterson (born October 11, 1972 in Santa Barbara California) is an American technology Entrepreneur and Arizona Millionaire Peter Schiff is the president of Euro Pacific Capital Inc a brokerage firm based in Darien, Connecticut. Stephen Allen Schwarzman (born February 14, 1947 is a billionaire American businessman and investor and the chairman and co-founder of the Blackstone Among the most prestigious private equity and investment management firms in the world The Blackstone Group' ( is a company that provides Private equity, financial advisory David F Swensen has been the Chief Investment Officer at Yale University since 1985. Jeffrey Vanderbeek is the owner of the New Jersey Devils, a professional Ice hockey team in the National Hockey League. The New Jersey Devils are a professional Ice hockey team based in Newark New Jersey. Roger Altman is an Investment banker, Private equity investor and former United States Deputy Treasury Secretary under Bill Clinton. William Jefferson "Bill" Clinton (born William Jefferson Blythe III, August 19 1946 served as the forty-second President of the United States John Ellis "Jeb" Bush (born February 11, 1953) is an American Politician and was the 43rd Governor of Florida List of Governors Military governor Spanish Florida was acquired from Spain in the Adams-Onís Treaty, which took effect July 10 The President of the United States is the Head of state and Head of government of the United States and is the highest political official in United States by George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. Daniel L Doctoroff (born July 11, 1958) was Deputy Mayor for Economic Development and Rebuilding for the City of New York under Bloomberg LP is a financial software services news and data company
• Jeffrey Garten - former Undersecretary of Commerce, former Dean of the Yale School of Management, economist
• Ernest Green - member of the Little Rock Nine, Assistant Secretary of Labor (1977-1981)
• Emil Henry - former Assistant Secretary of the Treasury for Financial Institutions
• Richard Holbrooke - U. Jeffrey E Garten (born October 29, 1946) was the Undersecretary of Commerce for International Trade under the Clinton administration and former Dean of About the School The School conducts education and research in Leadership, Economics, Operations 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 The Little Rock Nine was a group of African-American students who were enrolled in Little Rock Central High School in 1957 Richard Charles Albert Holbrooke (born April 24, 1941 to a Russian Jewish and German Jewish family in New York City) is an American S. Ambassador to the United Nations (1999-2001)
• Bruce Jackson - president of the U. The United Nations ( UN) is an International organization whose stated aims are to facilitate cooperation in International law, International security Bruce Jackson is the president of the Project on Transitional Democracies. S. Committee in NATO
• James A. Johnson - U. James A Johnson (born December 24, 1943) is a United States Democratic Party political figure S. Democratic Party political figure
• John Kasich - Member of the U. John Richard Kasich (born May 13, 1952, McKees Rocks Pennsylvania) is a former Republican United States Representative who is S. House of Representatives (1983-2001)
• Herbert Lehman - Governor, State of New York (1933-1942), Member of the United States Senate (1949-1957)
• Robert C. Herbert Henry Lehman (March 28 1878 December 5 1963 was a Democratic Party politician from the U Lieber- New York City Deputy Mayor for Economic Development
• Edward Morse - Deputy Assistant Secretary of State for International Energy Policy (1979-81)
• Peter George Peterson - U. Peter George Peterson (born June 5, 1926) is an American businessman Investment banker fiscal conservative, author and politician whose most S. Secretary of Commerce (1972-73), co-founder, the Blackstone Group
• Steve Preston - Administrator of the U. Steven C Preston (born August 4 1960 is the 14th Secretary of the United States Department of Housing and Urban Development (HUD S. Small Business Administration
• Felix G. Rohatyn - U. Felix George Rohatyn (born May 29, 1928 in Vienna Austria) is an American Investment banker known for his role in preventing the bankruptcy S. Ambassador to France (1997-2000)
• James R. Schlesinger - Director of the CIA (1973), U. James Rodney Schlesinger (born February 15, 1929) was United States Secretary of Defense from 1973 to 1975 under presidents Richard Nixon and S. Secretary of Defence (1973-75), U. S. Secretary of Energy (1977-79)
• Kathleen Kennedy Townsend - former Lieutenant Governor of Maryland

Other

• Andrew Gowers - editor of the Financial Times
• Jack H. Jacobs - Medal of Honor recipient
• David B. Hon Kathleen Hartington Kennedy Townsend, (born July 4, 1951) was lieutenant governor of the U Andrew Gowers (1957 -) was appointed editor of the Financial Times in October 2001 The Financial Times ( FT) is a British international business Newspaper. Jack H Jacobs (born August 2 1945 in Brooklyn, New York) is a retired Colonel in the United States Army and a Medal of Honor recipient Jacobs - Stock broker, hedge fund manager of Golden Eagle, Inc.
• Hadassah Lieberman - wife of U. Hadassah Lieberman (born Hadassah Freilich in the refugee camp of Prague, Czechoslovakia, in Mar S. Senator Joe Lieberman
• Kenneth Lipper - hedge fund manager, deputy mayor of New York City, novelist, screenwriter, and academic
• Andrew Morton - academic, currently head of European Fixed Income Division, cf Heath-Jarrow-Morton framework
• Robert L. "Nob" Rauch - ultimate frisbee administrator
• Theodore Roosevelt IV - Great Grandson of Theodore Roosevelt, U. Joseph Isadore "Joe" Lieberman (born February 24 1942 is the junior United States Senator from Connecticut. Kenneth Lipper is a prominent figure in the arts in the world of finance and in government The City of New York People named Andrew Morton include Andrew Morton (banker partner in Lehman Brothers, former academic Andrew Morton (computer programmer The Heath-Jarrow-Morton framework is a general framework to model the evolution of interest rates (forward rates in particular for Risk management in general and Asset Robert L "Nob" Rauch, born September 10 1958 is noted as a flying disc sports player/administrator and member of the Ultimate Hall of Fame Ultimate (often called Ultimate Frisbee in reference to the trademarked brand name) is a non-contact Team sport played with a 175 gram Flying Theodore Roosevelt IV (born November 27, 1942) is a managing director in the senior client coverage group of Lehman Brothers. S President 1901-1909
• Theodore Roosevelt V - Great, Great, Grandson of Theodore Roosevelt, U. Theodore Roosevelt V is an American actor and the great-great-grandson of President Theodore Roosevelt. S. President 1901-1909
• George Herbert Walker IV - former partner of Goldman Sachs, son of former U. George Herbert Walker IV (born April 1969 is a Managing Director at Lehman Brothers and is a second cousin to U The Goldman Sachs Group Inc, or simply Goldman Sachs ( is a large global Bank holding company that engages in Investment banking securities S Ambassador to Hungary, George Herbert Walker III, second cousin of George Walker Bush

See also

• Lehman Aggregate Bond Index

External links

• Lehman Brothers - official website
• Google Finance - Lehman Brothers
• Yahoo Finance - Lehman Brothers
• GrandCityHotels GmbH, subsidiary of Lehman Brothers Inc. in Germany

History

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

References

Further Reading

• Schack, Justin. George Herbert Walker III, commonly known as Bert Walker, is a former U George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. The Lehman Aggregate Bond Index is a broad base index often used to represent investment grade bonds being traded in United States (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

Footnotes

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