Barclays - Lehman timeline

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2008



September 2008: On September 17, Barclays announced its agreement to purchase Lehman Brothers' investment banking and trading divisions. On September 18, it successfully placed 226 million shares, raising approximately £700 million to give Barclays the capital necessary for the Lehman acquisition.

October/November 2008: Barclays launched a further round of capital raising, approved by special resolution on November 24, as part of its overall plan to achieve higher capital targets set by the FSA to ensure it would remain independent, and raised £7 billion from investors from Abu Dhabi and Qatar.


The week Wall Street capitulated
November 2008
In October the credit crunch finally devastated global equity markets as investor panic threatened to bring down all but the very strongest banks. Alex Chambers was pounding the sidewalks of New York just as the crisis entered its most tumultuous period and perhaps its denouement.

 

2009



Winners and losers in the scramble for investment banking revenue
April 2009
Barclays Capital, now including substantial remnants of Lehman, has risen one place from ninth in the first quarter 2008 to eighth this past quarter with revenues 36% down on the comparable quarter in 2008.


Barclays: The bank that lived 
June 2009
Barclays was the bank that many expected to fail. Recapitalized, with its earnings power enhanced, safe from the clutches of the UK taxpayer, it may emerge as one of the big winners from the crisis. The bank’s leaders expect to build dominant positions in both retail and investment banking. What could still throw Varley, Diamond & Co off course?

Abigail Hofman
June 2009
Barclays, which purchased the US broker/deal operations of Lehman, has fared better than Nomura. In its first quarter 2009 interim management statement, Barclays wrote: "The acquisition and successful integration of the Lehman business resulted in a transformational change in Barclays Capital where profit before tax was very substantially ahead of last year, rising 361% to £907 million." A source said: "Barclays bought the essence of Lehman – its US franchise. Nomura bought the rest."

2011



 
Best global investment bank 2011: BarCap muscles into investment banking big league
July 2011
Already a powerhouse in FICC, Barclays Capital is muscling its way into the upper echelons of global M&A advisory and equity capital markets. Its three-year investment programme to build global franchises on the back of Lehman’s US rump is nearly done. The firm’s bosses promise shareholders that they are about to reap the dividends and that revenues and income will flow in. The handful of leading global investment banks have a new competitor to deal with.


 

2012




Brilliant Bob Diamond’s luck finally runs out 
July 2012
It was Diamond’s hubris that ultimately triggered his untimely demise as Barclays' CEO, tarnishing a uniquely successful 16-year career as the architect of a global investment banking franchise. But his successor inherits a banking diamond that needs an awful lot of polishing. 

Bob Diamond's legacy in numbers 
July 2012
The shock resignation of Bob Diamond as group chief executive of Barclays has brought a swift and abrupt end to an 16-year rollercoaster career at the bank, in which he played a commanding role in orchestrating its remarkable evolution.

The silver lining for Barclays shareholders in Libor-gate
July 2012
The Libor scandal is unlikely to dent the group's earnings and could add impetus to chief executive Bob Diamond's belated cost-cutting drive.

 

Best Investment Bank in United States 2012


2013






Best Debt house 2013
Best Flow House Western Europe 2013
Best Debt House Africa 2013
Best M&A House in North America 2013
Best Flow House in North America 2013
Best Investment Bank UK 2013


The numbers that prove Lehman was deal of the century for Barclays

The numbers that prove Lehman was deal of the century for Barclays

September 2013

The collapse of Lehman Brothers was the best thing to happen to Barclays. Euromoney investigates.