DO you know who is Robert Millard and Dick Fuld? Remember Lehman brothers which went bankrupt and the famous financial repo105 fraud they committed? Their case isnt very different from Satyam where a fear of what may happen in US courts helped a Northie gobble a southie company and tarnish the CEO for ever. Dick Fuld was the CEO and Robert Millard was the MD. Millard was getting much more salary than the CEO when the fraud got exposed!! So what happened to them and what are they doing today? Robert B. Millard is currently Chairman of Realm Partners LLC. He serves as the lead independent director of L-3 Communications Corporation. He also served as a director of Weatherford International Inc. until February 2012 and Gulfmark Offshore, Inc. until July 2013. In addition, he serves on the board of trustees of the MIT Corporation (Executive Committee) and is chairman of the MIT Investment Management Company. He is a member of the Council on Foreign Relations and serves on its Finance and Budget Committee. Mr. Millard has an M.B.A. from the Harvard Business School and an S.B. from the Massachusetts Institute of Technology. Five years after the fall, Lehman Brothers no longer evokes the intense public anger it did in the weeks after the crash, when Fuld was hauled before Congress and made to answer for the firm’s demise. Most of the company’s top executives found lucrative jobs elsewhere on Wall Street. Many went to work for Barclays (BCS), which bought much of Lehman’s U.S. banking business out of bankruptcy. Lehman’s president, Bart McDade, and a top trader, Alex Kirk, founded investment firm River Birch Capital. George Walker, who ran Neuberger Berman, Lehman’s wealth management division, has continued to do so, thriving since the firm became independent. “I certainly don’t think there’s any Lehman hangover on the individuals themselves,” says Robert Wolf, the former chairman and CEO of UBS Americas FULD stayed on his own. In 2009 he founded Matrix Advisors, a consulting firm for mergers and acquisitions. In a regulatory filing, Fuld reported that he works more than 60 hours a week there. He renewed his securities license through a small broker-dealer, Legend Securities, run by a friend, and even underwent a medical exam for his student pilot’s certificate. He and his wife are major investors in a Phoenix-based chemical company, GlyEco (GLYE), that recycles ethylene glycol, a chemical compound used in antifreeze and polyester fibers. Financiers, like retired professional athletes, often discover they miss the action and long to get back in. “When something like that happens,” says Rattner, “you can do one of two things: Go off and become a beer distributor and build another life for yourself. Or do your utmost to come back in what you’ve always done. Dick is trying to come back.” Fuld may simply be motivated by an old-fashioned sense of propriety, however belated. Five years after the fall, Fuld seems to be seeking solace and some small measure of dignity by quietly carrying on. businessweek/articles/2013-09-12/where-is-dick-fuld-now-finding-lehman-brothers-last-ceo#p4
Posted on: Sun, 21 Sep 2014 09:45:01 +0000
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