Dick Fuld is getting kicked out of 745 Seventh Avenue. The building is now wrapped in the blue glow of Barclays, which has made it the centre of operations for its investment bank. Lehman CEO Fuld has long sat in the corner office on the 31st floor. On Monday that will come to an end, Heidi Moore of DealJournal reports.
Fuld and other top executives who were not tapped for positions at Barclays will be relocating to Lehman’s overflow space, a few blocks away at 1271 Sixth Avenue. A year and a half ago, Lehman began renting space in the Time & LIfe building. It’s mostly been used by administrative staff.
So what’s Fuld going to be doing over in his new digs? Here’s Heidi:
“While there, Fuld and some of his executive compatriots will go about their business of wrapping up what is left of Lehman. There’s not much left now, with the sale of the Americas business to Barclays, the European and Asian businesses to Nomura, and investment management to Bain Capital and Hellman & Friedman. But Lehman Brothers Holdings is still involved in a bankruptcy process, and Mr. Fuld and his cabinet are the cleanup crew.”