“there might be a more legitimate reason why many wealth managers steer clear of Norway” -- David Bain
Monday, 23rd November 2009
Richard S. Fuld Jr., former chief executive of Lehman Brothers, and his wife, Kathleen, have sold their co-op apartment on Manhattan’s Upper East Side for $25.9m (€18.1m) to Glenn Fuhrman, a co-founder of MSD Capital, according to a report in The New York Times.
The Fulds purchased the apartment in early 2007 for $21m.
Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.
Looking to get more from your yacht? Why not share it with others?
© 2009 eFinancialNews Ltd
2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU
Tel: +44 (0) 20 7309 7788
Company No 3089347
del.icio.us
Digg
Newsvine
reddit
StumbleUpon