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Barclays Capital is a leading global investment bank. It is the investment banking division of Barclays plc which has a balance sheet of over £1.2 trillion (2008 BARCAP figures). Barclays Capital provides financing and risk management services to large companies, institutions and government clients. It is a primary dealer in U.S. Treasury securities and various European Government bonds.

Barclays Capital is led by CEO Robert Diamond, an Americanmarker who had been vice-chairman of Credit Suisse First Boston prior to joining Barclays. Barclays Capital had 2004 income of GBP 3.4 billion/USD 6.4 billion primarily driven by the structured tax and rates businesses. Barclays Bank as a whole had 2004 income of GBP 13.9 billion/USD 26.4 billion.

Barclays Capital (Barcap) has offices in over 29 countries and since the acquisition of Lehman Brothers' main U.S. division in September 2008, employs over 20,000 people. This has significantly increased Barclays Capital's presence in the North Americas.

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Lehman Brothers Holdings Inc. (Pink Sheets: LEHMQ, former NYSE ticker symbol LEH) (pronounced /ˈliːmən/) was a global financial-services firm which, until declaring bankruptcy in 2008, participated in business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking. It was a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries included Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group. The firm's worldwide headquarters were in New York City, with regional headquarters in London and Tokyo, as well as offices located throughout the world.

On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock, and devaluation of its assets by credit rating agencies. The filing marked the largest bankruptcy in U.S. history.[2] The following day, the British bank Barclays announced its agreement to purchase, subject to regulatory approval, Lehman's North American investment-banking and trading divisions along with its New York headquarters building.[3][4] On September 20, 2008, a revised version of that agreement was approved by Judge James Peck.[5]

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