New York: The bankruptcy of storied investment bank Lehman Brothers one year ago accelerated the collapse of financial markets, wiped out investors and pulled the rug out from under 25,000 employees.
Thousands of the investment bank's employees landed jobs with Barclays Capital and Nomura Holdings, which acquired Lehman's banking and trading operations.
Many hundreds still work at Lehman, unwinding portfolios of loans and derivatives now held by the Lehman estate operating under bankruptcy protection.
But as the September 15 anniversary of Lehman's bankruptcy filing approaches, some of the firm's most senior executives have yet to re-emerge with new Wall Street jobs. Below is a partial list of Lehman executives and where they are now:
Richard Fuld: Chief executive since 1993. After briefly serving as a paid adviser to the Lehman estate, Fuld in April launched Matrix Advisors LLC, a Manhattan-based advisory and consulting firm. He also serves as an unpaid adviser to the Lehman estate.
Joseph Gregory: President and Fuld's longtime associate and chief operations officer. Gregory has not re-emerged on Wall Street since resigning under pressure in June 2008. He recently filed a $233 million claim on Lehman assets through bankruptcy court. Gregory could not be reached for comment.
Herbert "Bart" McDade: Ran Lehman's trading businesses and briefly took over as president in the firm's final, hectic weeks. McDade helped integrate the firm's U.S. capital markets business with Barclays Capital before departing in November. He has not yet re-emerged on Wall Street and declined to comment when reached at his home.
Eric Callan: Chief financial officer and the face of Lehman as it began sliding last year. Callan resigned along with Gregory in June 2008. Shortly after joining Credit Suisse Group to head its global hedge fund practice, she took a leave of absence that began in February. She has yet to return, a bank spokesman said.
Ian Lowitt: CFO and co-Chief Administrative Officer when Lehman collapsed. In April Lowitt became chief operating officer of Barclays Wealth, built on the assets of Lehman's private investment management business in the Americas.
Michael Gelband: Global head of capital markets in the firm's final months. The star trader left Lehman in 2007 after his efforts to rein in the bank's real estate exposure were rebuffed by Gregory, but he returned when McDade took over management. Last October Gelband landed the top fixed income job at Israel Englander's $13.5 billion hedge fund Millennium Partners.
David Goldfarb: A former powerful chief administrative officer and chief strategy officer. Goldfarb is an adviser to the Lehman estate. As of July 31, he was among more than 2,400 Lehman employees working on the wind-down of the bank's various assets.
Christopher O'meara: Callan's predecessor as CFO and subsequently global head of risk management. O'Meara is now co-head of a 200-strong team of traders tasked with unwinding the Lehman estate's portfolio of derivatives.
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Thomas Russo: Vice chairman and Lehman's top lawyer for years. Russo is a senior counsel at Patton Boggs and a professor at Columbia University.
Scott Freidheim: Named co-CAO in 2006. Freidheim joined friend and hedge fund manager Edward Lampert as an executive vice president at retail giant Sears Holdings.
George Walker: Head of Lehman's investment management division and a second cousin of President George W. Bush. Walker led the $2.15 billion sale of Neuberger Berman Group LLC to private equity buyers and is now CEO. Some 1,600 Lehman employees remained with the wealth management firm.
Kim Wallace: Long-time political affairs analyst. Wallace joined the Obama administration as Treasury Department assistant secretary for legislative affairs, advising Secretary Timothy Geithner.
Mark Shafir: Global co-head of M&A. Shafir decamped to Citigroup a year ago to run its mergers business.
Mark Burton: Head of U.S. financial institutions M&A. Burton joined merger advisory firm Evercore Partners in July.
Charles Ayres: Former head of global merchant banking. Ayres now leads Trilantic Capital Partners, the $3.3 billion merchant banking arm split off by Lehman in April.
Jasjit Bhattal: Former chief executive of Lehman's Asia-Pacific region. In June Bhattal stepped down as chairman of Nomura Holdings. He was the only Lehman alumnus on the Japanese bank's 14-member wholesale banking management board.
Hannah Burns: Former global head of public relations. Burns is now chief operating officer at North Sea Partners LLC, a leveraged finance investment bank.
Barclays and Nomura:
Thousands of Lehman alumni remain at London-based Barclays Capital, which acquired Lehman's North American investment banking and securities trading businesses, and at Japan's Nomura Securities, which bought Lehman's businesses in Europe and Asia.
Senior equities, investment banking and merger advisory executives took over similar roles at the expanded Barclays Capital, which had a weaker U.S. presence in these businesses:
- Hugh "Skip" McGee, global head of investment banking
- Paul Parker, global head of M&A
- Jeffrey Weiss, co-head global finance
- Larry Wieseneck, co-head of global finance and head of
Risk Solutions
- Stephen Lessing, global head of client relations
- erald Donini, head of equities
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