New York Post – After months of courtship, Lehman Brothers landed George H. Walker IV – a gilded Goldman Sachs partner and President Bush’s second cousin – as head of its huge asset managementbusiness.
That division, which has almost $200 billion in assets, also is responsible for Lehman’s growing hedge fund operations, a spot where the Wall Street giant recently has hit some bumps.
One of Walker’s first challenges will be to monitor the performance of the three unusually aggressive hedge funds Lehman has equity stakes in – Ospraie Management, GLG Partners and Marble Bar Asset Management.
During the past year, both GLG and Ospraie have gotten nicked as key markets turned against them.
