Our Operations Group
The Operations Group provides the support and control infrastructure that enables the Firm to develop and deliver financial products throughout the world. Working with the Sales and Trading teams and the Information Technology Group, Operations professionals are responsible for the management and execution of transactions in a manner which maximizes profitability and minimizes risk.
The Operations Group includes the following groups: Equity Operations, Fixed Income Operations, Investment Management Division Operations, Information and Exposure Management, Clearance and Custody Services, Operations Control, and the Business Analysis group.
Equity Operations
Equity Operations works closely with Sales, Trading, Information Technology, Finance and the Firm's clients to enhance the Firm's overall performance by minimizing operational and consequent market risk and by adding value to clients' interaction with Lehman Brothers. The department works closely with Clearance and Settlements and other Operations-shared services such as Corporate Actions, Transaction Management Group, Margin, Operations Control and more.
Equity Execution Services
Key groups:
- U.S. Domestic Equity Sales Support Middle Office: Processes and monitors all aspects of the client business pertaining to clients for cash, relative value, ICG/IFSG and program trading.
- U.S. International Equity Sales Support Middle Office: Processes and monitors all aspects of the business pertaining to international equity trades settling in local
markets.
“Operations professionals are responsible for the management and execution of transactions in a manner which maximizes profitability and minimizes risk.” - U.S. Domestic Equity Cash Trade Support: Processes and monitors all aspects of the business pertaining to U.S. clients trading U.S. equities.
- U.S. Domestic Equity Program Trading Middle Office: Coordinates all front-to-back program trading internal processes, ensuring that our sales force and traders deliver the best possible service to our clients.
- NY International Equity Program Trading Middle Office: Coordinates all front-to-back program trading internal processes, ensuring that our sales force and traders deliver the best possible service to our clients.
- U.S. Convertible, Listed and Distributed Sales and Trade Support: The direct point of contact between the Sales and Trading desk, clients and all back-office departments for all trade-related issues leading up to and including settlement.
Equity Derivatives
Equity Derivatives derive their value from an equity index or an individual equity security. Derivative products include: equity futures, swaps, options, equity-linked notes, convertible bonds and warrants, as well as some additional products.
Key groups:
- Swap and Yield Enhancement Support: Provides full operational support, from initial trade booking and dissemination of information to other downs stream groups, through to settlement, client valuations, reconciliation and P&L production.
- Volatility Trade Support: Provides operational control and reconciliation processing independent of trading and sales.
- Settlements/CMTA (Commission Billing): Responsible for ensuring all trades are booked and settled correctly.
Equity Finance
Equity Finance borrows stock to cover short sales and fails and to facilitate other trading strategies including the conduit business. The group is responsible for maintaining collateral and for managing the Firm's equity box positions. Equity Finance is both a profit center and a low-cost funding vehicle. The primary role of the trade support area is to work in partnership with the trading desks in maintaining client services, contract, billing, exposure and collateral management.
Equity Syndicate Operations
This group provides front-to-back operational support for the Equity new issue process. This includes supporting the Equity Capital Markets and Equity Syndicate departments in the Americas, as well as assisting the Europe and Asia regions on global deals.
Equity Sales Development
Sales Development is the global source for all trades relating to institutional sales credit purposes. This Equities-based group is solely responsible for U.S. institutional sales, which includes reporting, online applications, data integrity, customer mapping relationships and IR/RR issuance and usage.