Apollo Global Management
Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States.
Drexel Burnham Lambert - Wikipedia
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Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States.
Leon Black, the alpha villain in Morgenson and Rosner’s Plunderers, went to work for Michael Milken’s Drexel Burnham Lambert two years after his father’s death. Drexel was a pioneer in trading what is now called “distressed” debt, the illiquid but high-yield bonds of corporations that had fallen on hard times.
The trio met at investment bank Drexel Burnham Lambert, and struck out on their own after the troubled firm filed for bankruptcy. Harris announced in 2021 he was stepping out of its board and is...
Among the beneficiaries of the SEC's internal blundering is Dennis B. Levine, a disgraced trader at the now-defunct Drexel Burnham Lambert whose conviction in 1986 on insider trading eventually...
Rowan met Apollo cofounders Leon Black and Joshua Harris while working at investment bank Drexel Burnham Lambert's M&A division. The trio founded Apollo in 1990, after Drexel filed for...
Faber Report: Demise of Drexel. Drexel Burnham Lambert, the investment bank famous for high-yield or “junk” bonds, filed for bankruptcy on Feb. 13, 1990 after several years of legal troubles.
Mr. Coslet is a Senior Partner of TPG. Mr. Coslet is also a member of the firm’s Investment Committee and Management Committee. Prior to joining TPG, he worked at Donaldson, Lufkin & Jenrette, and before that, at Drexel Burnham Lambert, where he started his career. Mr.
…Company to form what became Drexel Burnham Lambert Inc., a major investment banking company. In 1971 Milken became head of Drexel Burnham’s bond-trading department. He saw great potential in the neglected area of “junk bonds”—i.e., non-investment-grade bonds that were typically issued by smaller, newer companies or by established ...
News about Drexel Burnham Lambert, including commentary and archival articles published in The New York Times.
In 1976, Drexel Burnham and Company merged with Lambert Brussels Witter, which was controlled by the Belgian Bank Brussels Lambert. The Lamberts were one of Europe ’ s oldest banking families. Baron Leon Lambert served as a director of the new Drexel Burnham Lambert, Inc. while Tubby Burnham continued as chairman.