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Barclays Wealth acquires Lehman Brothers Private Investment Management
22 September 2008: Barclays confirms that following receipt on 19 September 2008 of approval from the United States Bankruptcy court for the Southern District of New York, Barclays today completed the acquisition of Lehman Brothers North American investment banking and capital markets operations and supporting infrastructure.
As part of this acquisition, Barclays Wealth has acquired Lehman Brothers Private Investment Management (PIM).
The Lehman Brothers Private Investment Management operation has a great franchise with a long standing reputation for excellence and client focus. With assets of $50bn, 12 offices in the US and South America and approximately 850 employees, the acquisition brings scale, talent and expertise to our business.
