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The 'Bros' At Lehman Brothers: Where Are They Now?
Management at Lehman Brothers was known for their extreme devotion to the firm.
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Bankers even missed the birth of their children because of their Lehman priorities.
But when Lehman filed for bankruptcy in 2008, those same devoted bankers lost nearly everything.
Many top Lehman executives found other jobs on Wall Street, while others could not, and some just called it quits.
After serving as CEO for 14 years, in September of 2008, Lehman filed for bankruptcy with more than $600 billion in debt. The investment bank had been heavily leveraged and invested in the subprime mortgage business and held billions of dollars of toxic debt.
On September 17, 2008, Fuld sold 2.87 million of his Lehman shares for $.20 each, cashing out with $639,082 from a position valued a year earlier at over $168 million.
In 2009, he started Matrix Advisors, a firm that provides executive strategic counseling. In early 2012, he lost his securities license and has no Wall Street employment.
During June of 2008, Gregory was asked to leave after serving for over 30 years. Lehman shares had fallen 25% in a week, even though the firm had raised $6 billion in funding.
He is one of Lehman's largest individual creditors, with a total claim of $233 million in deferred compensation.
Since leaving Lehman, Gregory has been in the news for selling several of his properties and vehicles.
He sold his prized helicopter that he used to fly from his Long Island home to Manhattan, and fired his household staff of 29.
His Bridgehampton home, listed for $32.5 million, sold for $20 million to Donny Deutsch.
And, just a few weeks ago, he put his Lloyd Harbor, NY home on the market for $22 million.
Callan served as CFO from late 2007 through June 2008, and gave the media a recognizable face while giving the bank a new sense of transparency. Due to Lehman's poor balance sheet and plummeting stock, Callan was fired after only six months as CFO.
After leaving Lehman, she joined Credit Suisse as a hedge fund advisor, but did not stay for long.
In late 2007, Callan married a long-time friend and high school classmate, Anthony Montella, a New York City firefighter. It was a second marriage for both.
Since leaving Wall Street, she has spent most her time at her $3.9 million East Hampton residence.
McGee was an investment banker working in the natural resources and power sectors, before becoming the global head of the investment banking division at Lehman Brothers Holdings.
He went to Barclays after Lehman's investment bank was purchased by the London bank, and is now the head of investment banking at Barclays Capital.
During the height of the financial crisis, it was rumored that he had negotiated to receive a $25 million per year contract, making him one of the highest paid bankers on Wall Street.
In early 2012, McGee played golf at Pebble Beach with Tiger Woods and Phil Mickelson during the National Pro-Am tournament.
Miller is a Lawyer at New York's Weil, Gotshal & Manges, where he specializes in reorganizing distressed business entities.
He has served as Lehman's lead bankruptcy lawyer, and has helped the bank deal with its 2008 bankruptcy filing and $639 billion in assets.
Considered one of the best, Miller has advised bankruptcies of several corporate giants, including General Motors and Continental Airlines.
Miller serves as a Lecturer-in-Law at Columbia Law School.
Goldfarb held the positions of chief administrative officer, chief strategy officer and head of proprietary investing. He had also served as CFO.
Most recently, Goldfarb worked as a consultant to the Lehman estate, a very small remaining portion of the company that is devoted to paying creditors.
In 2012, several of his email conversations with Dick Fuld were published.
During Lehman's late years, Gelband was the global head of the fixed income division, before serving as the global head of capital markets.
In 2008, he warned upper management at Lehman that the bank had taken on excessive risk. And, in 2005, he warned a group in the distressed debt department that Lehman had extraordinary leverage.
Following Lehman's collapse in 2008, Gelband left for Millennium Management, where he is a senior managing director and global head of fixed income.
While at Lehman, Russo served as vice chairman and chief legal officer of Lehman Brother Holdings from 1993 to 2008.
In 2010, he joined AIG as Executive Vice President and General Counsel. Russo manages AIG's Legal, Compliance, Regulatory Affairs, and Government Affairs.
Russo recently penned a book about life inside of Wall Street's big institutions, called The 2008 Financial Crisis and Its Aftermath, and is available for free online.
At Lehman, McDade served primarily as the global head of equities, and following the departure of Joe Gregory in June of 2008, he he held the position of COO.
McDade took control of Lehman during its final days in 2008 while CEO Dick Fuld had been pushed aside.
According to his Linkedin, he has been at River Branch Capital since the start of 2010. McDade, along with three Lehman alums, created River Branch Capital, a equities trading and underwriting company. Evercore Partners has made a significant investment in the firm.
Freidheim worked at Lehman since 1991 and served as chief administrative officer during the bank's collapse in 2008.
Following Lehman's collapse, Freidheim began working for Eddie Lampert's Sears Holdings. He managed Sears' Kenmore, Craftsman and DieHard brands.
After working for Sears Holdings for three years, Freidheim was hired to run European operations of Investcorp Bank BSC. He is CEO of Europe for the Bahrain based bank.
In June of 2008, he replaced Erin Callan as CFO, leaving his position as chief administrative officer. He was Lehman's final CFO, before joining Barclays.
In April of 2012, Lowitt, the COO of Barclays wealth management in the US, announced that he would be leaving the firm.
Currently, 48 year old Lowitt is CFO and head of global strategy at Marex Spectron in London.
O'Meara served as CFO from 2004 through December of 2007, before Callan took the role of CFO.
After Callan took the CFO position, he became chief risk officer.
Following Lehman's collapse, he stayed with the firm and was co-head of efforts to unwind the firm's derivatives holdings.
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