1990-1999
		American Express divested Shearson in 1993, and the independent Firm once again became known solely as Lehman Brothers.

		1994
		The Firm becomes independent through a public stock offering and Lehman Brothers Holding Inc. common stock commences trading on the New York & Pacific stock exchanges. Lehman Brothers opens an office in Tel Aviv, Israel, building upon its long-term presence in that country.

		1995
		The Firm earns recognition as "Global Bond House of the Year" by International Finance Review.

		1998
		Lehman Brothers joins the S&P 500 Index and establishes its 10 Uncommon EuroValues portfolio.

		1999
		Lehman Brothers establishes its first venture capital fund and celebrates the 50th year of its 10 Uncommon Values® portfolio. Lehman Brothers establishes an alliance with Bank of Tokyo-Mitsubishi for Japanese M&A. The Firm passes the $1 billion mark in annual net income for the first time.