The History of Lehman Brothers

Discussion in 'Stocks' started by Port1385, Sep 20, 2008.

  1. 2000+
    Lehman Brothers celebrates its 150th year anniversary.

    The Firm joins the S&P 100 Index and its stock price hits $100 for the first time.

    Lehman Brothers becomes the first firm to underwrite corporate debt on the Internet.

    The Firm launches LehmanLive®, a Web site that offers clients around the globe access to a vast array of services and proprietary information 24 hours a day.

    The Firm resumes fixed income trading two days after Sept. 11 and equity trading when U.S. markets open.

    Lehman Brothers brings the first IPO, Given Imaging, to market after Sept. 11.

    The Firm buys 745 Seventh Ave. for its new global headquarters in Midtown Manhattan and purchases additional space in New York City and New Jersey.

    Lehman Brothers becomes a member of the Amsterdam Stock Exchange.

    Lehman Brothers moves into its new global headquarters in Midtown Manhattan.

    The Firm establishes the Wealth and Asset Management Division*.

    Lehman Brothers executes the largest financial services IPO in history for CIT Group, and the largest European leveraged buyout in history for KKR and Wendel Investissement.

    The Firm lead-manages the largest-ever U.S. dollar denominated debt issue for GECC.

    Lehman Brothers acquires Lincoln Capital Management's fixed income business*.

    * In 2005, the Wealth and Asset Management Division was renamed the Investment Management Division and Lincoln Capital Fixed Income Management Company, LLC was renamed Lehman Brothers Asset Management LLC.

    Lehman Brothers acquires Neuberger Berman, positioning the Firm as an industry leader in the wealth and asset management business.

    The Firm moves to its new European headquarters at 25 Bank Street in Canary Wharf.

    Lehman Brothers acquires The Crossroads Group*, expanding the Firm's private equity fund investment management business.

    Moody's Investors Service raises the Firm's long-term credit rating to A1 and the LBI broker-dealer credit rating to Aa3, representing the third ratings upgrade in the last four years.

    * In 2005, Lehman Crossroads Investment Advisers, LP (d/b/a The Crossroads Group) was renamed Lehman Brothers Private Fund Advisers, LP.

    Lehman Brothers moves to its new Asia headquarters in Tokyo's Roppongi Hills.

    The Firm advises on two of the top five announced Mergers & Acquisitions transactions worldwide: Cingular Wireless' acquisition of AT&T Wireless Services; and Sprint's acquisition of Nextel Communications.

    Lehman Brothers executes the largest capital markets transaction in the history of the U.S. utility industry for Pacific Gas & Electric and the largest IPO globally in 2004 for Belgacom SA.

    The Firm posts record financial results, including best-ever net revenue, net income, and earnings per share. The Firm increases its dividend by 33%.

    Assets under management at the Firm's Investment Management Division rise to a record $137 billion.

    Lehman Brothers achieves record revenues, net income and earnings per share based on record results in each business segment and region.

    Standard & Poor's upgrades Lehman Brothers' long-term senior debt rating to A+ from A, citing diversified earnings base and strong risk management.

    The Firm's assets under management grow to a record $175 billion.

    Named "Best Investment Bank" by Euromoney in its 2005 Awards for Excellence.

    Lehman Brothers opens an office in Mumbai, India.

    Lehman Brothers achieves record net revenues, net income and earnings per share for the third consecutive year based on record results across all business segments and regions.

    Ranks #1 in the Barron's 500 annual survey of corporate performance for the largest companies in the U.S. and Canada.

    #1 dealer on the London Stock Exchange by trading volume.

    Advises clients on the three largest global M&A deals announced in 2006: AT&T's acquisition of BellSouth; Gaz de France's merger with Suez* (pending); Endesa's defense mandate resulting from E.ON's takeover offer** (withdrawn).

    The Lehman Brothers Centre for Women in Business officially launches at the London Business School.

    All transactions appear as a matter of record only.
    Source: Thomson Financial, 1 Jan 2006 - 31 Dec 2006
    * Advisor to the Republic of France, Gaz de France's majority shareholder
    ** Also acted as advisor to Endesa on a consortium's (Enel and Acciona) subsequent takeover offer in 2007

    Lehman Brothers ranks #1 "Most Admired Securities Firm" by Fortune.

    Achieves record net revenues, net income and earnings per common share (diluted) for the fourth consecutive year based on record results in all three business segments.

    Acts as financial advisor on largest-ever M&A transaction in financial institutions sector: $98 billion acquisition of ABN AMRO by a consortium of the Royal Bank of Scotland, Santander and Fortis.*

    #1 dealer on the London Stock Exchange by annual trading volume for the third year in a row.

    Creates the Lehman Brothers Center for Global Finance and Economic Development at Spelman College, the #1 ranked institution among historically black colleges and universities by U.S. News & World Report.

    Establishes the Council on Climate Change to bring together leaders from industry, policy and academia to facilitate constructive dialogue regarding climate change policy formulation and its impact on business.

    2008- BANKRUPTCY
  2. Nice post.

  3. complete history:

    indeed very sad story for all the average joe working there every day 8-8 for the last 10-20 years pulling in 100-200k a year and had a significant part of their networth and 401k wiped out. I know quite a few guys there, also 100-200k a year living around nyc with a family isnt really a lot of money.

    Adding salt to the wound, they rescued bear, fnm/fre, threw lehman to the sharks, then step on its corpse to force a rescue for merrill, rescued aig, saved morgan stanley and all the other finanancial firms with those ridculus policies 2 days later.

    someone must really hate lehman or fuld.


    Something almost just doesnt seem right about it?
    Interesting turn of events within the Financial Community to say the least.
  5. solyaris


    CONCLUSION: once you go green, you go bankrupt.
  6. dhpar


    lol :D :D :D

    also thanks to OP. I loved Lehman despite them being our competitor.
  7. Mecro


    Right, as opposed to the millions of people starving all around the world. No, let's cry for the "average joe" top 5 B/D employee who is pulling in 100k-200k working at a parasitic institution. Because 100k-200k is an average joe salary, after all. 100k-200k is not money in NYC for family, not when the wife wants her Prada bags & her servants.

    I say good riddance to Lehman and the people who work there. I only wish the rest of these parasites went down in flames, but instead, the masses are going to be paying for the bailout while having their homes foreclosed on.
  8. dhpar


    another socialist loser here...some people just don't get it. fortunately these people will never make it to the wall street in the first place.
  9. Mecro


    Right, I am a socialist because I am against bail-outs, nice touch. Good logic you got there.

    And your assumption is WAY off, but nice try anyway. Bitter about losing your cleaning job at Lehman? Or are you the Cozi delivery guy?
  10. mind


    it think they were just unlucky. paulson tested the
    water with them to find out how markets react if he
    does not step in. he found out ... but they were already
    #10     Sep 22, 2008