The Traderszone Network

Published in TZ Latest News 28 May, 2015 by The TZ Newswire Staff

Ex-Lehman CEO Fuld: 27,000 employees were risk managers

Lehman Brothers Holdings Inc. had 27,000 risk managers — the firm’s stockholding employees — before it collapsed in 2008, former Chief Executive Officer Richard Fuld said. “Regardless of what you heard about Lehman Brothers’ risk management, I had 27,000 risk managers because they all owned a piece of the firm,” Fuld, 69, said Thursday in his first public address since the financial crisis. Fuld, the keynote speaker at the Marcum MicroCap Conference in New York, called Lehman one of the greatest investment banks on the street.