rivals-circle-lehman-in-asia

Rivals circle Lehman in Asia

The chance of finding a buyer for the firm's Asian business appears slim after Barclays grabs the US operations and competitors start to woo key staff and clients in the region.
The news in the early hours of yesterday morning that Barclays has agreed to buy Lehman BrothersÆ US operations no doubt came as a huge relief to the firmÆs 10,000 or so US staff members that now have a chance of keeping their jobs. But at the same time it added to the uncertainty about what will happen to LehmanÆs businesses in Asia after the US investment bank filed for Chapter 11 bankruptcy protection earlier this week.

A press release issued by Barclays yesterday made no mention of the operations in this part of the world, but noted that LehmanÆs US businesses are ôa highly complementary fitö for its investment banking business, Barclays Capital.

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