What happened to the employees/juniors at Lehman Brothers?
Anyone who is ex-Lehman IB can speak about their experience after being let go? Would be great to hear about anyone’s experience as a junior ib analyst after the events of lehman
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Are you currently working at Credit Suisse lol?
Bump
Credit Suisse bankers out in full force
Related to an ex-Lehman employee. The move was Barclays/RBC, wherever the seniors went. He doesn't work in finance anymore (now in tech). Seems like that famous LEH culture was a shell of itself at those two firms (my relative did a stint at both of them after LEH). Few rough years financially after leaving Wall Street but 10+ years later, has done very well.
One thing I hated about Lehman going down was Lehman bankers coming to other banks and trying to instill the Lehman culture. Lehman culture was the worst from what I could gather.
Each his own. My relative never went into detail about how to explain it. I think it was just nice to work for similar bosses. Interestingly enough, my relative is now the client of one of the banks they joined after LEH and I believe still gives work to one of their former Lehman bosses (not as an IB client).
Would love to hear more on the Lehman culture, old heads chime in plz
My uncle used to work at Lehman. When I was a child, he used to beat me and my younger brother up whenever he thought we were "not being respectful to him". Like full-on MMA style beating. Thank god that dickhead is now stuck in senior housing alone waiting for his death bed. No family member ever visits him.
I hope you are joking - but would not be surprised if you weren't. Lehman bankers and temper tantrums.
Old boss was a Lehman’s trader and was only there for a few years before they collapsed. Said he saved a lot, took a year off, and then went to business school and then off to top tier FIG specialist. So I guess it worked out alright.
Barclays barely had a real North American IB operation so a vast majority of the Lehman junior population simply went to Barclays.
2008 summer analyst class (class of 2009) had their full time offers converted to Barclays.
At the more senior levels, it was a mix of people staying and deal makers getting poached by competitors (e.g. Mark Shafir to Citi)
In Asia, they went to Nomura.
There were still a ton of layoffs / multiple rounds across the street from 2008-2009 including at Barclays / Lehman but it wasn’t the same as JPM / Bear Stearns where there were significant overlaps due to the acquisition and a significant portion of Bear Stearns employees got blown out.
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