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More on the man in the middle: Richard Fuld

Could Lehman Brothers CEO Richard Fuld have saved the firm? There will be plenty of post mortems, and more than a few might conclude that yes, there were deals that could have been struck. Neuberger Berman could have been sold, as could a large stake in the company. But as the Financial Times suggests, the issue always came down to price. Fuld, after nearly 30 years at the same firm; after being so intimately tied up in the trees, just couldn't see the forest to save himself, or his employees. "But his failure goes beyond refusing to make a trade that he did not like. Lehman also displayed confusion and ambiguity about how to address the credit crisis...The investment bank suffered from not conveying a clear message either internally or externally," notes the FT. His fall was classic, downright Shakespearean. A tragedy. At least a b-school case study.

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Published:: Sep 15 2008 / 12:49 pm

Category:: Hedge Fund News

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Could Lehman Brothers CEO Richard Fuld have saved the firm? There will be plenty of post mortems, and more than a few might conclude that yes, there were deals that could have been struck. Neuberger Berman could have been sold, as could a large stake in the company. But as the Financial Times suggests, the issue always came down to price. Fuld, after nearly 30 years at the same firm; after being so intimately tied up in the trees, just couldn’t see the forest to save himself, or his employees. “But his failure goes beyond refusing to make a trade that he did not like. Lehman also displayed confusion and ambiguity about how to address the credit crisis…The investment bank suffered from not conveying a clear message either internally or externally,” notes the FT. His fall was classic, downright Shakespearean. A tragedy. At least a b-school case study.

For more:
- here’s the article

Lehman Brother’s CEO Richard Fuld | Four Groups' Blog Sep 22 2008 / 8pm

[…] OS Hedge Fuld, after nearly 30 years at the same firm; after being so intimately tied up in the trees, just couldn’t see the forest to save himself, or his employees. “But his failure goes beyond refusing to make a trade that he did not like. Lehman also displayed confusion and ambiguity about how to address the credit crisis…The investment bank suffered from not conveying a clear message either internally or externally,” notes the FT. His fall was classic, downright Shakespearean. A tragedy. At least a b-school case study. […]

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More on the man in the middle: Richard Fuld

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