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1. Lehman Brothers Inc.
399 Park Avenue
NEW YORK NY 10179
www.lehman.com
2. History of Lehman Brothers
3. Lehman Price Performance (1996-2006)
4. Lehman Today The Leader in Fixed Income Business
Growing in reputation for Equity and M&A
Investment Management Division continues to grow
Lehman has rebounded and is again seen as a strong competitor
5. Fixed Income Focus 82% of Pretax Profits from underwriting/trading of bonds (Q3 2006)
Working to diversifying business
Purchased Mutual Fund Neuberger Berman in 2003
Total Assets under Management now total $160 billion
Non-fixed income workforce has increased 68% since 2001
6. Financials
7. Financials….continued
8. Culture Client focused
Global bank – New York, Tokyo, & London
Pride themselves in the talent and diversity of their employees
People are fairly atypical for Wall Street
Important to get into a strong group at Lehman
Recruiting organization distinguishes b/w:
I-Banking Associate
Private Investment Management Associate
Strengths
Generalist program, with rotation through several groups, then receive specific assignment after assessing the groups and your interests
Three and a half year program
Flat organization, and meritocracy
Lehman’s name will be better recognized on resume than small boutiques and newly formed specialist I-banks
9. Management Dick Fuld
With Lehman since analyst days in 1955
According to Lehman Brothers' former Chairman and CEO Peter Peterson, “Dick deserves enormous credit for reinventing the culture of Lehman Brothers. He was wise enough to see how destructive the old Lehman culture was and effective enough to build a new culture to replace it. In today's investment banking industry, with trading and capital markets and investment banking so integrated, that kind of teamwork is utterly essential, and I think it's one big reason why they've been so successful.”
Joseph M. Gregory, President and Chief Operating Officer
Chris O’Meara, Chief Financial Officer
10. Recognitions “#1 Corporate Performance” - Barron 2006
#1 "All-America Fixed-Income Research Team" - Institutional Investor 2006
#1 "All-America Equities Research Team" - Institutional Investor 2006
“Best M&A House in Western Europe” – Euromoney 2006
#3 Global Mergers and Acquisitions” - BusinessWeek 2006
"Most Improved Investment Bank of the Decade" – Financial News 2006
“Best Investment Bank” – Euromoney 2005
“#2 Most Admired Securities Company” – Fortune 2005
“#1 All America Fixed Income Research , Trading, and Sales Team” – Institutional Investor 2005
“#1 All America Fixed Income Trading Team” – Institutional Investor 2005
“#1 All America Fixed Income Sales Team” – Institutional Investor 2005
Fortune rates the companies in their industry on eight attributes:
Innovation
Employee Talent
Use of Corporate Assets
Social Responsibility
Quality of Management
Financial Soundness
Long-term Investment
Quality of Products/Services