Lehman Brothers
The judges recognised Lehman Brothers’ clear vision and understanding of the trends and drivers in the marketplace. For example, given the increasing importance of the retail sector, Lehman Brothers has determinedly enhanced its ability to distribute “retail-oriented” Tier 1 and other capital securities. These structures have a number of subtle differences from institutional-targeted structures and Lehman has used its structuring expertise to ensure that retail transactions structured and lead-managed by the bank achieve the optimal balance between issuer requirements and investors’ interests. In addition, the successful build-up of Lehman’s European business – particularly its coverage and distribution capabilities – impressed the judges. In the year to June 2004, Lehman was a place behind top-ranked Merrill Lynch for European bank capital issuance, with a market share of 11% by value and topping the list in terms of deal volume. “We focus on providing our clients with the optimal, tailored capital structure solutions given both their particular requirements and objectives, and our understanding of the retail and institutional investor bases in Europe, the US and Asia. The structuring technology that we use is based on experience and our understanding of the changing regulatory, tax, rating agency and accounting environment, as well as our constant capacity to innovate. Our diligence, attention to detail and superior knowledge base ensure that our structures are flawless,” says Eamonn Price, co-head of European FIG debt capital markets.
Eamonn Price
Benjamin Katz “The success of our strategy is best demonstrated by the number of repeat transactions that we have executed for leading financial institutions in Europe and the US,” says Benjamin Katz, managing director, head of European structured capital solutions
