Lehman's Fuld on Why He Made a Deal

The investment bank's CEO says the time was finally right to move into asset management, and Neuberger Berman stood out second to none

Lehman Brothers' chairman and CEO Richard S. Fuld Jr. has long been a skeptic of the conventional wisdom that big is beautiful in financial services. He had good reason. Fuld experienced firsthand the failed marriage between American Express (AXP ) and Shearson Lehman Hutton Inc. that resulted in Lehman (LEH ) being spun off in 1994.

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