Lehman joins retail FX rush
The US investment bank was tipped to acquire part of a 35% stake held by creditors of defunct futures broker Refco earlier this year (FX Week, May 28). In doing so, it joins ABN Amro, Barclays Capital, Citi, Deutsche Bank, Goldman Sachs and UBS to capitalise on surging retail flows - valued at $60-$100 billion a day - through white-label partnerships or by acquisitions.
The remaining 25.1% of the FXCM stake will be held by New York-based private equity firm Long Ridge, a special purpose
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