From Market Watch.
Lehman Brothers Holdings Inc.'s (LEH) biggest geographical gap lies in Asia, the fastest-growing markets for investment banks, the company's chief financial officer said Monday.
Lehman generated 37% of its revenue outside the United States last year, beating all its peers, CFO David Goldfarb said in a Webcast of a UBS investors' conference in New York. However, the company trails them in most businesses in Asia and in some areas such as prime brokerage and investment banking.
The firm's share price and profitability have beaten its competitors in recent years as it strives to close gaps through hiring and some acquisitions, he said.
Goldfarb has previously said that Lehman's top investment priority this year is building its business in Asia. The firm employed 800 people there in the late 1990s, currently has about 1,500, and expects to grow the number to 2,500.
Despite the concerns of the India Times blogger, we think this might be a good thing. Afterall, there has been plenty of concern raised about the out-of-control skewing of sex ratios in some Asian countries. In short, the problem is that some countries, are producing many more young men than women. Some observers worry that an excess of young, aggressive men will threaten world peace. Or maybe they'll just all become investment bankers.
Lehman's biggest gap is Asia, CFO Goldfarb says [Market Watch]