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barcap side got killed.....sad, they saved lehman....
Lehman's energy group was one of the first groups that Barcap wanted to keep. I also know that Barcap has made an effort to honor offers made at Lehman during and at the end of the summer.
anyone know anything about the state of healthcare, sponsors and industrials?
Barcap didn't get killed overall. Plenty of Barcap people were saved, they were just in groups in which Barclays was stronger than Lehman. So a good number of desks on the trading floor kept all the Barclays people and fired the Lehman people. Remember, IBD is much smaller than S&T, so even if most of Barclays' IBD (which was never all that large in the first place) got fired, net-net the damage was probably pretty equal on both sides.
For a rundown of IBD go to efinancialnews.com and search for an article that came out last week that listed the heads of all groups with in IBD, as well as whether they were Lehman or Barclays (most were Lehman).
On the S&T side (from what I've heard) Barclays prevailed in Commodities, Emerging Markets, FX, and most of Rates. Lehman prevailed in Mortgages, Credit, and pretty much anything related to Equities.
What about research? This was an area where Lehman was far stronger but there were a few well-respected analysts from Barclays. Did they pick and choose group by group, or was it a complete wipeout of Barclays Research?
I have the best Leh/Bar story about the merger but can not tell it yet as it has not been resolved yet.
once it is... I will share
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