Lehman staff in it for the hoot
October 7th 2008 01:39
Some Lehman Brothers senior management stand to make millions in the next few months helping the failed bank’s liquidator unwind its trades, according to a report in today's issue of The Times (link).
According to the report, the work will be covered by Nomura, the Japanese bank that is buying large chunks of Lehman, in a deal hammered out by PricewaterhouseCoopers, Lehman’s administrator.
The Times reported Nomura as saying yesterday that it would hire more than 150 of Lehman’s fixed-income staff for the work.
They are pictured above reporting for duty.
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"Richard Fuld, the disgraced head of Lehman Brothers, was punched in the face in the office gym amid the bank's collapse.
Mr Fuld, who has been testifying on the financial crisis before the US House Oversight Committee, was attacked on a Sunday shortly after it was announced that the banking giant was bankrupt."