Lehman CEO kicked out of his plush corner office

Posted Oct 2nd 2008 9:50AM by Zac Bissonnette
Filed under: Lehman Br Holdings (LEH), Housing, Financial Crisis

Oh how the mighty have fallen.

With Lehman Bros. in the midst of winding up what's left of its operations following its bankruptcy filing, chairman and CEO Richard Fuld has been kicked out of the corner office at Lehman's Manhattan headquarters -- and sent packing to to a 41st floor office at 1271 6th Avenue.

Lehman's building at 745 7th Avenue is now the headquarters for Barclays' investment banking operations. It has no use for Mr. Fuld. With a flair for drama, The Wall Street Journal sums it up (subscription required) this way: "Napoleon cooled his heels on Elba. The Dalai Lama lives in Dharamsala, India. And Lehman Brothers Holdings Chairman and CEO Richard Fuld Jr. will be banished to 1271 Sixth Ave."

Meanwhile former CFO Erin Callan -- who was pushed out as a sacrificial lamb back in July -- gave her first post-Lehman interview to Fortune, telling the reporter that Mr. Fuld had been brought to tears by the difficulties the company was facing.

If you're in the market for $15 million worth of Fuld's modern art collection, Christie's has got you covered.

Tags: erin callan, ErinCallan, Fuld, inthenews, Lehman, Wall Street, WallStreet

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Reader Comments (Page 2 of 2)

10-02-2008 @ 7:03PM

Al Gray said...

WE ARE SHOCKED THAT NOBODY HAS GONE AFTER THE FORMER CEO OF ALBERTSONS FOOD CENTERS, WHO ABSCOUNDED WITH A $130 MILLION DOLLAR PACKAGE AFTER NEARLY RUINING THE COMPANY.

A FORMER GE GOLDEN BOY WHO FAILED MISERABLY AT ALBERTSONS

10-02-2008 @ 7:06PM

thundercloud said...

i am still the king of my double wide with t he polester curtains...minus the wheels of course. had to sell those off last month to make the mortgage payment

10-02-2008 @ 7:26PM

Seawolf said...

Richard Fuld
Total: $24 million
Company: Lehman Brothers

Fuld's four-decade career with Lehman took a hit on Sept. 15, 2008 when the investment bank filed for Chapter 11 bankruptcy protection, the largest such case in US history.
Correction: The original caption stated that Fuld's career "came to an end", implying he was no longer with the firm, effective Sept. 17, at the time Barclays officially announced it was buying parts of Lehman. In fact, Fuld has remained with the firm since the Chapter 11 filing on Sept. 15.

10-02-2008 @ 7:33PM

Lisa said...

Oh, boo-hoo! He is a crook, and he should be living in a tiny cell with a few roommates. He should be thanking his lucky stars that he can still live a charmed life, while hard-working people lose everything.

10-02-2008 @ 8:03PM

Joseph Papierz Jr said...

I'm always dissappointed that so many people are hateful and filled with anger and spite. No wonder foreigners think less of Americans every day.

Will we ever learn to live in peace and let God handle the judgements?

10-02-2008 @ 9:42PM

patriot said...

Make people who earn over 500,000 a year have a tax to help pay for this 700 billion bailout! go to this site and sign sen. sanders petition! don't wait!http://sanders.senate.gov/petitions/?petition=Financial_Crisis_1

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