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...necessary for the overall financial markets to recover from the economic downturn; averting enormous liability to the Lehman estate,” Doug Lambert, managing director of Alvarez & Marsal and chief executive of Lamco...
...Lehman’s managers had at one point hoped to spin out an asset management company, called Lamco, that would give equity to employees who had remained with the estate....
...Douglas Lambert, chief executive of Lamco, Lehman’s asset management company, has said a large non-US bank, such as Spain’s Banco Santander, could be a potential buyer, though no discussions have yet taken...
...Lehman created an asset management company called Lamco last year. It planned to retain bankers by taking on third-party clients and creating a viable business that could offer them equity stakes....
...In addition to its Lehman work, Lamco is seeking to market its skills with troubled assets to outside clients and investors....
...of A&M who is serving as the Lehman estate’s chief executive, has said that about half of A&M’s personnel will leave Lehman by the end of its third year in bankruptcy, replaced in part by employees of Lamco...
...The Lamco team believes there could be more lawsuits and has identified another 400-500 potential legal disputes over derivatives claims....
...would be perfect for a large foreign bank looking to enter the US market, like Banco Santander,” said Douglas Lambert, a managing director at restructuring firm Alvarez & Marsal and chief executive of Lamco...
...The company, called Lamco, will be staffed by current members of the team overseeing the bankrupt Lehman Brothers Holdings estate....
...Lamco, an acronym for Legacy Asset Management, employs about 500 people, many of whom came from Lehman and competitors such as Goldman Sachs and Citigroup....
...But there are also plenty of downsides to the Lamco plan....
...The company, called Lamco, will be staffed by members of the team overseeing Lehman Brothers Holdings....
...When all is said and done, LAMCO, the non-debtor subsidiary tasked with the management of the Lehman estate’s illiquid assets, will likely restructure over 80% of the CRE assets in its portfolio, Shanik...
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