Replies to post #115468 on Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

🌎️Man will Trick and Fluff Up The World Too:

No, LAMCO Advisory Services was not a successor entity of Lehman Brothers before the 2021 acquisition by Advus. LAMCO was a separate operational entity established by the restructuring firm Alvarez & Marsal (A&M) to manage certain operations for Lehman Brothers Holdings, Inc. (LBHI) during its liquidation process, and operated outside of the main bankruptcy proceedings.
Following the 2008 bankruptcy of Lehman Brothers, its core businesses were sold off to different entities:
Barclays acquired the North American investment banking and trading operations, including the private investment management business for high-net-worth individuals.
Nomura Holdings acquired Lehman Brothers' Asia-Pacific franchise, as well as its investment banking and equities businesses in Europe and the Middle East.
Neuberger Berman, which had been acquired by Lehman Brothers in 2003, was spun off through an employee-led buyout, becoming a private, independent investment management firm.
LAMCO was a company that housed former Lehman and A&M employees to help manage the wind-down of LBHI's remaining assets and make payments to creditors, as the parent company remained in liquidation for years after the bankruptcy filing. It was a service provider to the Lehman Brothers Holdings Inc. estate, not a continuing independent advisory firm built on the "original Lehman foundation" in the sense of a business successor. The description in the acquisition by Advus might refer to the long history of the employees who worked there (some of whom were likely former Lehman employees), rather than the firm itself being a direct historical successor to the pre-bankruptcy Lehman Brothers advisory business.