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BAF 3M1 - The Lehman Brothers

By LSM
  • Lehman Brothers Founded

    Lehman Brothers Founded

    Founded by the brothers Henry, Emanuel, and Mayer Lehman in Montgomery, Alabama
  • Lehman Brothers Corporation created

    Lehman Brothers Corporation created

    Closed- end investment company

  • Lehman acquires Abraham & Co.

  • American Express aquuires Lehman Brothers and merges with Shearson

  • American Express divests Shearson and independant firm becomes Lehman Brothers again

    American Express divests Shearson and independant firm becomes Lehman Brothers again

  • Dick Fuld (former chairman) becomes CEO

    Dick Fuld (former chairman) becomes CEO

  • Lehman Broher become independant through a public stock offering

    Begins trading on the New York and Pacific stock exchanges

  • Lehman faces vast losses and possible death

    It is holding toxic debt but the feds step in and bail out the losses to keep it going. This happens again is 1998

  • Establishes an alliance with Tokyo Mitsubishi

  • Aquires Neuberger Berman and the Crossroads Group

  • Record high year

    Posts record high net revenues, net income and earnings per common share for the fourth consecutive year and highest volume of trade on London stock exchange for third year in a row
  • Bart McDade becomes president and COO in charge of saving company

    Bart McDade becomes president and COO in charge of saving company

  • The collapse of Lehman Brothers

    The collapse of Lehman Brothers

    Files chapter 11 bankruptcy
    26000 people loose jobs
    Millions loose most or all money because Richard Fuld convinces all the people to give loans, buy shares and not sell stocks.
    Has big impact on people involved