Lehman Reopening Under Barclays

Lehman Brothers has begun to reopen for business under the ownership of Barclays Capital, and more than 10,000 Lehman employees have been offered jobs in the new entity, according to Barclays PLC. The actions followed the recent approval by the Bankruptcy Court for the Southern District of New York of Barclays' agreement to acquire Lehman Brothers' investment banking and fixed-income and equity sales, trading, and research businesses, among others. Lehman's banking and advisory functions are now open for business, and its capital markets and trading businesses will resume full operations shortly, Barclays said. Employment offers have been made to all employees of the Lehman businesses acquired by Barclays. The combined firm will use the Barclays Capital name. Barclays said it has purchased the rights to use the Lehman Brothers name and will consider opportunities to do so.