Lehman Brothers closer to Neuberger Berman deal?

CNBC.com reports that Lehman Brothers is moving quickly to sell prized fund company Neuberger Berman. The partners of the asset management unit were told by executives that they may even meet with potential buyers soon. What does such a sale mean? Well, as CNBC.com notes, it would suggest that other capital raising endeavors are not really working. But let's assume a deal goes through and Lehman is successful in creating a "bad" bank. What does leave for the new Lehman Brothers? CEO Richard Fuld basically envisions a boutique along the lines of Lazard Freres, a deal house. No longer a fixed income power. No longer a firm with aspirations of being another Morgan Stanley. Would Fuld run the shop? Not likely.

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