More On Mighty Woody Young's Exit

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The Wall Street Journal's Dennis Berman has more details on the departure of George H. "Woody" Young III from Lehman Brothers on Friday.
•Word first broke after Woody "gathered his troops and told them he was leaving at once." Talk about sudden departures.
•He quit on his 47th birthday!
•More rumors that Woody left after losing a power struggle. Or, as the journal put it " as part of the brutal and high-stakes jockeying that's part of life on the Street."
•Young sought to re-organize Lehman's investment bankers, moving resources away from small, less active clients to concentrate on top corporate and private equity clients.
•Young wasn't happy with the banks decision to do business with a client that he saw as having a conflict of interest with an existing client, presumably one of his.
Our deep research on Young has so far struck out when it comes to his activities last week, on Friday or this weekend. But we have learned that he graduated from Brown and served as a White House Fellow in 1991-92. He's also a pretty big donor to the Democratic party.
Feel free to drop any more details in the comments section below or email us at tips(at)dealbreaker(dot)com.
A Top Lehman Banker Exits in Apparent Rift [Wall Street Journal]

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