Again With the Curse of Dick Fuld: New Barclays, Nomura Brass Signal Retreats From Lehman Acquisitions
A little over a month ago, The Wall Street Journal identified the Curse of Dick Fuld, after the bank bosses who picked assets off the carcass of Lehman Brothers resigned from their posts in unceremonious fashion.
First went Bob Diamond, who snapped up Lehman’s U.S. securities business for Barclays, and who stepped down at the beginning of July after his bank agreed to pay $450 million to settle an investigation into its efforts to manipulate interbank lending rates.
Next fell Nomura chief executive Kenichi Watanabe and chief operating officer Takumi Shibata—who led Nomura’s deal for Lehman’s European and Asian units—amid an insider trading scandal that roiled the Japanese firm.
This week, it seemed, Barclays and Nomura appeared to pare back their respective global ambitions in tandem. Read More