With
Lehman Brothers customers will benefit from extensive protections under SEC rules, including segregation of customer securities and cash as well as insurance by the
Certainly, because the firm excluded
And while investment banks have been hard hit by the credit crisis, strong management and the recurring revenue stream from management fees at investment houses are insulating them from the turmoil.
The factors all provide a level of stability with earnings and growth potential going forward, said Michael S. Kim, an analyst with
But the firm could hit trouble if portfolio managers decide to leave under different management, warned David Kathman, an analyst with
Meanwhile, Lehman is reportedly still trying to sell its asset management unit in its entirety, which includes an asset management and private equity division at Lehman as well as Neuberger Berman. Earlier, the firm was looking to sell a 55% stake. Reportedly, five companies have bid for thebusiness, including: Kohlberg Kravis Roberts & Co., Hellman & Friedman, Clayton Dubilier & Rice, Bain Capital and CVC Capital Partners.