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Lehman Brothers

Lehman Brothers has sold its equities and investment banking operations out of administration to Nomura for a nominal sum, which could secure the future of 2,000 jobs in London.

Lehman Brothers of the US is to acquire Preferred Mortgages, the provider of home loans to borrowers with poor credit ratings, from Barclays Private Equity and Rotch Group.

Lehman Brothers is to relocate the European headquarters of its investment banking business from the City of London to Canary Wharf, having decided against a move to Hackney.

Lehman Brothers, the investment bank, is considering plans to build a new £80m corporate headquarters at Northgate in Hackney.