“At least 700 investment banking jobs at Lehman Brothers in Europe appeared to be safe as Barclays and Nomura tabled their final offers ”
At least 700 investment banking jobs at Lehman Brothers in Europe appeared to be safe last night as Barclays and Nomura tabled their final offers to buy large swaths of the collapsed American investment bank.
Hundreds more of Lehman’s back-office and support staff could also find themselves new employers within the next 24 hours as the two banks submitted formal proposals to PricewaterhouseCoopers (PwC), the administrator for the bank in Britain and continental Europe.
Lehman employs about 1,500 staff in the cash equities business and the mergers and acquisitions advisory unit. The vast majority of them are based in Canary Wharf in East London, but there are also offices across the Continent and in the Middle East.
The two banks appeared to be neck and neck in the race for Lehman assets last night.
Source: Times Online
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