You will not have read too much about Lehman Brothers in the columns of CityNews. And that's mostly because the firm rarely does anything to excess. The staff seem fairly happy and business remains good. CityNews takes a closer look.
Unlike some of its rivals, there have been no huge worrying quarterly losses at Lehman. The firm didn't go mad during the great bull run and hire countless staff and, as a result, did not need to wield the axe to the same extent as the competition when the markets fell away.
Barrons reported that Lehman's investment banking division profits were last year actually higher than King Goldmans, mostly down to the firm's lower cost base. Relatively scandal-free, Lehman has good controls and a strong risk management culture. Despite many rumours over the years, the firm remains independent and successfully operates in a time-honoured entrepreneurial spirit. Hot on diversity, the firm truly cares about its people. If Lehman comes knocking, staff would be wise to listen to what the firm has to say.