“I worry that we could get arrogant. If you get arrogant, you lose your way, and start making mistakes”
In 2005 Euromoney interviewed CEO of Lehman Brothers Richard Fuld on the future strategy of the Investment Bank after winning Best Investment Bank and Best Credit Derivatives House for the 2005 Awards for Excellence. Was it the strategy in 2005 that has led to its downfall today or did Lehman become impudent...
"Around 60% of revenues comes from the fixed-income business," says one investor. "That's more than Bear Stearns' 50% and Merrill Lynch's 25%." In the second quarter this year just over 63% of revenues came from fixed income.
Implicit in such concerns is a fear that Lehman is more prone to suffer when the debt markets perform poorly.
- Can Lehman grow and still succeed? (free to access)