After Lehman, Who's Next? ; That's the Trillion-Dollar Question, As the Global Financial System Teeters.

Summary

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...We have created a full-scale investment banking, securities trading and private equity business, a clear vote of confidence in the economic and social future of India a future in which we at Lehman Brothers fully intend to play a large and growing part. Tarun Jotwani, Chairman & CEO, Lehman Brothers, India, in the foreword of the investment bank's release of an India report titled India: Everything to Play For, last October.

Those were good times for Jotwani and his India team. The 158- year-old Lehman Brothers was preparing to celebrate its first anniversary since opening office in the upscale Ceejay House in central Mumbai. Our fundamental vision is that India is at an early stage of a structural growth story ... we want to be a part of this process. We do not want to create a cottage industry, a full-of- beans Jotwani told Business Today in late-October. The India CEO had reason to be upbeat: Lehman, after all, was the bank that had just played advisor to the $98.2-billion mega-takeover of Dutch bank ABN AMRO by Royal Bank of Scotland.

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Extract

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After Lehman, Who's Next? ; That's the Trillion-Dollar Question, As the Global Financial System Teeters.

Last fortnight, days after announcing a $3.9-billion net loss for the third quarter, ending August 30. Lehman itself was up for grabs. However, the bank, which had negative net revenues of $2.93 billion in t...

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