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Lehman Brothers Holdings Incorporated
News and Blogs
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Case study: How PwC used IT to untangle Lehman Brothers collapse
www.computerweekly.com | Sep 14, 2009
The failure of Lehman Brothers a year ago highlighted the scale of the financial meltdown and global recession.
Lawrence G. McDonald: The Case For Dismantling Giant Banks
www.huffingtonpost.com | Oct 12, 2009
These 21st century banks have become deadly, systemically risky dominoes that can crush us all if they fail, or can bankrupt us all with debt if we have to bail them out.
http://www.huffingtonpost.com/lawrence-g-mcdonald/the-case-for-dismantling_b_316701.html
Aftershock
vint.sogeti.nl | Oct 4, 2009
One year on from the collapse of investment bank Lehman Brothers - the biggest bankruptcy in US corporate history - the BBC is to launch Aftershock, a new season investigating the impact of the events that followed on economies and people around the world.
Japan's Nomura posts second straight profit
uk.news.yahoo.com | Oct 28, 2009
Japan's top securities firm Nomura declared its purchase of large parts of failed US bank Lehman Brothers "a resounding success" Wednesday as it posted a second
http://uk.news.yahoo.com/18/20091028/tbs-japan-s-nomura-posts-second-straight-5268574.html
News from Zibb.com
Total : 14 View more »
Japanese businessman jailed for 15 years for defrauding Lehman Brothers - Zibb.com
Sep 14, 2009 (BBC Monitoring via COMTEX) --
Tokyo, Sept. 14 Kyodo - A Tokyo court sentenced a former president of a medical consulting company to 15 years in prison and 5 million yen in fines on Monday for conspiracy in defrauding a Japanese unit of failed Lehman Brothers Holdings Inc. using fabricated documents of Japanese trading company Marubeni Corp.
The Tokyo District Court found Shigenori Saito, 47, who was president of Asclepius Ltd., guilty of conspiring to deceive the Japanese arm of the now-defunct US securities company into investing 37.1 billion yen in bogus hospital restructuring projects between August and November in 2007. The punishment given by the court was in line with what the prosecutors have sought.
Presiding Judge Osamu Iguchi said Saito played an "integral part in the crime by telling his accomplices to forge documents" that carried the letterhead of a Marubeni vice-president. His conspirators included former Marubeni employee Yuzuru Yamanaka, 36, who has been indicted on fraud and other charges.
Saito was also ordered to pay a surcharge of some 412 million yen, the same amount of money he earned in March last year in insider trading, the court said.
He made the profit by selling off a total of 11,500 shares in LTT Bio-Pharma Co., the parent company of Saito's firm, before disclosing that his company had become unable to reimburse investors for contributions they made to its capital and that it was withdrawing from a capital tie-up with the parent firm, it said.
Source: Kyodo News Service, Tokyo, in English 1022 gmt 14 Sep 09
BBC Mon AS1 AsPol nm
Tags: consulting contributions hospital insider trading japan medical money new mexico president prison restructuring tokyo yen
Companies: Lehman Brothers Holdings, Inc. (LEHMQ), Marubeni Corp. (MARUY)
Lehman Brothers chooses Citadel to provide asset servicing platform - Zibb.com
Aug 27, 2009 (Datamonitor via COMTEX) --
Lehman Brothers Holdings has selected Citadel Solutions to provide administration services, including the creation of an asset servicing platform.
Citadel Solutions said that it will leverage its proprietary technology and team of experts to support Lehman Brothers Holdings (LBHI) in managing middle and back-office processing for its derivative, corporate bank loan,
commodity and principal investment portfolios.
The implementation of the Citadel Solutions platform is anticipated to begin in September 2009, and to be fully operational in 2010.
In addition to providing ongoing services for LBHI's asset classes, Citadel
Solutions will supply technology and middle-office support during the wind-down of the Lehman Estate over an anticipated three- to four-year period.
The retention of Citadel Solutions on an interim basis was approved by the bankruptcy court and is subject to the negotiation and execution of definitive
documentation.
Jeff Donaldson, head of LBHI's technology transition effort and managing director for Alvarez & Marsal, a professional services firm overseeing LBHI's restructuring, said: "Following an extensive search, we are confident that Citadel Solutions has the technological capabilities and expertise we need to execute our transition strategy. Citadel Solutions's single platform is a flexible and cost-effective means to service LBHI's complex and diverse asset portfolios. It clearly meets our objective of maximizing value to creditors in the most suitable way."
John Buckley, president of Citadel Solutions, said: "Our subject-matter expertise in all aspects of capital markets will enable us to build an infrastructure to efficiently wind-down the assets held by the Lehman Estate. By leveraging our technology, domain capabilities and team culture, we will provide agile and innovative solutions to our partners at LBHI."
http://www.datamonitor.com
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Tags: bank commodity corporate investment president restructuring technology
Companies: Lehman Brothers Holdings, Inc. (LEHMQ)
Morgan Stanley Vends Lehman Claim - Zibb.com
Sep 19, 2009 (Zacks.com via COMTEX) --
Morgan Stanley (MS) sold a claim on $1.2 billion of Lehman Brothers' (LEHMQ) liquidation to about 10 different investors this week. The claim was connected to approximately 10,000 derivative transactions for which Lehman was the counterparty. The sales price was 38.5% of the face value or $462 million. Lehman Brothers Holdings filed for Chapter 11 bankruptcy protection in September 2008. This was the high water mark of the credit market turmoil. After this big fall, some counterparties suffered huge losses, which are now looking to claim. Some investors have the capability of recovering more on the claims than what the original sellers of the claims expect. As a result, demand for buying and selling those claims has increased significantly. Furthermore, with signs of recovery, the recent market stability boosted the trading opportunities in these claims as their value increased over the last six months. One of the first big blocks of claims was traded by Deutsche Bank (DB) in June. Deutsche traded more than EUR500 million in the liquidation of Lehman's European operating company, Lehman Brothers International Europe. Last month, hedge fund Citadel Investment Group sold a claim on $423 million of Lehman Brothers' assets to Credit Suisse Group (CS), according to a filing at New York Bankruptcy Court. Though cyclical headwinds and market turmoil are expected to persist for a while, we believe that the management of Morgan Stanley is staying the course to emerge from the downturn and building a strong competitive position. However, the current backdrop remains challenging, given the weak housing market and increasing unemployment. Morgan Stanley's second quarter results experienced continued improvement in credit default spreads and it was among the first banks to repay the bailout money. Given the continued momentum in its core institutional securities franchise and cost containment measures, we expect Morgan Stanley to deliver strong results in the near future.
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Tags: bankruptcy hedge fund housing investment investment opinion market money new_york research securities unemployment water
Companies: Credit Suisse Group (CS), Lehman Brothers Holdings, Inc. (LEHMQ), Morgan Stanley (MS)
ASSETS HELD BY JAPAN INVESTMENT ADVISORY COS RISE 10% IN 3 MNTHS - Zibb.com
TOKYO, Sep 02, 2009 (AsiaPulse via COMTEX) --
Assets entrusted to investment advisory firms totaled 156.78 trillion yen (US$1.7 trillion) as of June 30, rising 10.3 per cent from the end of March and increasing for the second straight quarter, the Japan Securities Investment Advisers Association reported Tuesday.
The value of such assets shrank sharply in the wake of the financial market confusion following the collapse of U.S. brokerage Lehman Brothers Holdings Inc. But amid a stock market recovery, the figure returned to its late-September level.
Assets under contract with public pension funds and other domestic clients climbed 8.9 per cent, marking the sixth consecutive quarterly uptick, while the tally for overseas clients jumped 11.8 per cent for the fourth successive gain.
As investors sought safety, funds consisting of domestic bonds rose 22 per cent, the highest growth among all investment vehicles.
"Pension funds are increasingly opting to avoid risks," says an association official.
(Nikkei) rw
Tags: bonds contract investment japan market nikkei securities yen
Companies: Lehman Brothers Holdings, Inc. (LEHMQ)
Web Sites
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Photos: Ten financial casualties following Lehman Brothers collapse
www.computerweekly.com
The collapse of Lehman Brothers confirmed that workers in the financial services sector faced a bleak future. It triggered a series of cataclysmic events in the global financial services sector.
http://www.computerweekly.com/galleries/237671-1/Lehman-Brothers-goes-bankrupt-15-September-2008.htm
Lehman Brothers
Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide.
Reducing Data Centre Costs and Simultaneously Implementing Environmental Policy
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Free whitepaper from IBM about storage management, data centre, energy and infrastructures . What are UK companies doing about energy
El Paso Corporation
El Paso Corporation acquired a 50-percent interest in the Gulf LNG Clean Energy Project, a planned LNG terminal in Mississippi. El Paso will operate the facility. Learn more...
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Lehman Brothers Holdings Inc. was a global financial-services firm prior to its bankruptcy and sale in 2008.
Lehman Brothers Holdings Incorporated (LEHMQ) Company Profile ...
www.corporateinformation.com
Lehman Brothers Holdings Incorporated. The Group's principal activity is to provide investment banking services to institutional, corporate, government and high-net-worth ...
http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=524908100
Lehman Brothers - Wikipedia, the free encyclopedia
en.wikipedia.org
Lehman Brothers Holdings Inc. (Pink Sheets: LEHMQ, former NYSE ticker symbol LEH) (pronounced /ˈliːmən/) was a global financial-services firm which, until declaring bankruptcy ...
Delaware beats Switzerland as most secretive financial center ...
www.democraticunderground.com
Lehman Brothers Holdings - incorporated in the State of Delaware Bear Stearns Cos - incorporated in the State of Delaware (Obviously the list could go on....)
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4128013
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Events
Brady Dougan, Chief Executive Officer of Credit Suisse, is scheduled to present at the Merrill Lynch Banking & Insurance CEO Conference on Wednesday, October 8 at 9.30 am (BST).
www.credit-suisse.com
This presentation will be available via live audio webcast on the Investor Relations website.A replay will be available within 3 hours after the event at the same web address.
http://www.credit-suisse.com/investors/doc/ml_banking_conference_brady_081008.pdf
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Publications/Financial conferences
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Michel Danechi Head of Emerging Markets Equities Lehman Brothers Michel Danechi is the Managing Director at Lehman Brothers responsible for Emerging Markets within European Equities. Mr Danechi joined Lehman Brothers and the newly created Emerging Markets desk in July this year.