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Australia?s Lehman Brothers finds new parent

Staff Reporter 1 minute read

Japan’s Nomura Holdings will buy the Asia Pacific branches of Lehman Brothers, including the Australian branch, the investment bank announced overnight.

Under the terms of the transaction, all 3,000 Lehman Brothers employees in the Asia Pacific will be offered employment with Nomura.

Kenichi Watanabe, president and CEO of Nomura, said it was “a once in a generation opportunity” that would assist in the bank’s vision to becoming a world-class investment bank.

According to The Australian, Nomura will pay up to $623 million for the franchise.

Published: 23-09-08

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