London Lehman Employees Will Get Paid (This Month)

Lehman Brothers has reportedly secured a loan enabling them to pay their London bankers their September salaries, as long as they keep showing up to work this week.

Furthermore, although Barclays is only obligated to buy Lehman’s North American offices, the British bank is interested in acquiring some international talent.

Here is the City: Small comfort though it may be in the scheme of things, at least Lehman Brothers’ London-based staff will get paid Friday – as long as they continue to rock up to work. Bloomberg reports that administrators for the firm have managed to negotiate a loan to enable them to pay Lehman’s City staff their September salaries.

And yet more good news could be on the way for those luckless Lehmaners. Although Barclays has made it clear that it is under no obligation to acquire any of the firm outside North America, the UK bank hasn’t given up hope of landing some Lehman talent in others parts of the world. Barclays President Bob Diamond said: ‘We won’t want to miss the opportunity to get talent from the UK and Europe’. Diamond is thought to be particularly interested in Lehman’s international cash equities and equity capital markets businesses.

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