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Over the weekend we started hearing rumors that a big shot at Lehman Brothers had quit the firm, perhaps because he was passed over for the job of running the corporate finance group.
This morning Andrew Sorkin reports that telecom banking giant George H. Young IIII (aka, “Woody”) resigned from Lehman on Friday. According to Sorkin, Woody was “the top producing banker at Lehman Brothers.” Running the global communications group–Lehman’s most profitable–Woody was responsible for bringing in mountains of fees last year, advising on a reported $231 billion of deals last year.
Of course, Woody’s not talking and no-one is going on the record about why he left or where he’s likely to land next. A source who once attended a fundraiser for John Edwards in Woody’s Chelsea home describes him as “very nice.” Which is no fun at all. So feel free to engage in irresponsible speculation or swap random Woody tales in the comments section below.
Top-Producing Banker Resigns Abruptly at Lehman Brothers [New York Times]