The chief executive of Lehman Brothers Holdings Inc. of New York may be considering selling the securities business of the company, according to CNBC.
The report claimed that Dick Fuld and other top executives at Lehman Brothers are concerned that unless business conditions improve dramatically, the firm either will need to reduce its work force significantly or sell the securities wing of its business. However, a conflicting report from Reuters citing “a person close to the company” claimed that there are no plans for a sale in the works at all.
Lehman Brothers declined to comment on either report.
Possible buyers for Lehman’s securities business mentioned by CNBC include Barclays PLC of London, The Blackstone Group of New York, HSBC Holdings PLC of London and The Toronto-Dominion Bank.
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