Thursday, November 26, 2015 12:15:12 AM
1) Lehman's staff manages a portfolio of more than $10 billion in assets, including piles of cash and securities, interests in real estate and private equity investments,
2) Lehman's management can make investments if they determine it will likely benefit creditors.
3) Since exiting bankruptcy protection, the investment bank has remained in business, managing a large pool of assets and selling when it finds a good deal, rather than in a panic. This has resulted in greater-than-expected recovery for Lehman’s creditors.
4) In 2012, Lehman ponied up about $3 billion to buy two minority positions held by other banks in Archstone, an owner of apartment complexes, giving it full ownership. It later sold Archstone for $6.5 billion.
5) Lehman last year spent $151 million on private placement of stock in First Data.
6) Lehman provided financing in 2007 for the buyout of First Data, which was led by KKR & Co (KKR.N).
7) Lehman’s new board is run by executives and directors of businesses and subsidiaries related toDelphi Automotive PLC, Morgan Stanley, American International Group Inc. and Capmark Financial Group Inc., took over in 2012.
8) Mr. Gallagher was also appointed to serve as the Chief Executive Officer of the WMIH. Mr. Gallagher is currently an Executive Vice President and member of the board of directors at Capmark Financial Group Inc. (“Capmark”). Mr. Gallagher served as President and CEO of Capmark from February 2011 to November 2014. He was Executive Vice President and Chief Risk Officer of Capmark from March 2009 to February 2011.
Thomas L. Fairfield is anticipated to become a director upon consummation of the reincorporation, and has
served as a consultant of WMIHC since November 21, 2014. It is also anticipated that Mr. Fairfield will be
appointed to serve as the chief operating officer of the Company. Mr. Fairfield is currently an Executive Vice
President and member of the board of directors at Capmark. Mr. Fairfield was Chief Operating Officer of
Capmark from February 2011 to November 2014. From August 2013 to March 2014, Mr. Fairfield served as a
director of The Cash Store Financial Services Inc. From March 2006 to February 2011, Mr. Fairfield served as
Executive Vice President, Secretary and General Counsel of Capmark. Prior to joining Capmark, Mr. Fairfield
was a partner at the law firm of Reed Smith LLP from September 2005 to March 2006 and prior to that at Paul,
Hastings, Janofsky & Walker LLP from February 2000 to August 2005 and LeBoeuf, Lamb, Greene & MacRae,
LLP, from January 1991 to February 2000, where his practice focused primarily on general corporate and
securities law, mergers and acquisitions, corporate finance and financial services.
Tagar C. Olson is anticipated to become a director upon consummation of the reincorporation, and has
served as an observer to the board since March 13, 2014. Mr. Olson is a Member of KKR. He joined KKR in
2002, and he currently serves as Head of KKR’s financial services industry team. Mr. Olson has played a
significant role in KKR’s investment activity in the financial services sector over the past decade and currently
sits on the boards of directors of Alliant Insurance Services, First Data Corporation, Santander Consumer USA,
Sedgwick, Inc. and Visant Corporation and is involved with KKR’s investment in Nephila Capital Ltd. Prior to
joining KKR, Mr. Olson was with Evercore Partners Inc. starting in 1999, where he was involved in a number of
private equity transactions and mergers and acquisitions. Mr. Olson holds a B.S. and B.A.S., summa cum laude,
from the University of Pennsylvania.
Source:
http://www.wsj.com/articles/after-bankruptcy-lehman-pays-44-million-in-bonuses-1425322205
http://www.reuters.com/article/2015/10/22/us-firstdata-ipo-lehman-idUSKCN0SG21420151022
http://wmih-corp.com/director-and-officers/william-c-gallagher/
http://wmih-corp.com/wp-content/uploads/2015/03/2015-Proxy-Statement.pdf
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