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Lehman Brothers: Managing a Global Investment Bank |
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Our strategy emphasizes the building of a diversified set of high-margin businesses that together, deliver consistently strong results throughout the market cycle. - Richard S. Fuld, Chairman & CEO, Lehman Brothers1. IntroductionHistory2The history of Lehman paralleled the growth of the United States and its transformation into a country of prosperity and international prominence. Henry Lehman, an immigrant from Germany, opened his small shop in the city of Montgomery, Alabama in 1844. Six years later, his brothers Emanuel and Mayer joined him, and they named the business Lehman Brothers. Cotton was the cash crop of the time, and the Lehmans accepted it from the local farmers as currency to settle accounts. In 1858, they opened an office in New York, which was the commodity-trading center of the country...
1] Lehman Brothers Annual Report, 2002. |
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