Lehman Brothers Update: plans to sell broker-dealer operation

Lehman Brothers, who announced they have filed for bankruptcy protection, but the chapter 11 filing will not include its broker-dealer operations, Neuberger Berman and other units.

The US troubled bank Lehman, are in advanced talks with several potential buyers of its investment management division. The 158-year old Wall Street Bank could not survive the global credit crunch but managed to survive world wars and the collapse of Long-Term Capital Management.

Investors of Lehman, have grown increasingly worried the last few weeks over the future of the banks $46 billion of mortgage and asset-backed securities. As well as its ability to raise capital and credit rating. The banks future is now imminent.

Source: reuters