Lehman moving Israeli research analysts to London
_POSTEDON 2002-09-17 17:48:40 by
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rula _WRITES "http://www.themarker.com/eng/article.jhtml?ElementId=%2Fibo%2Frepositories%2Fstories%2Fm1_2000%2Fre20020917_07e.xml&AdType=1_A
U.S. brokerage giant Lehman Brothers said on Tuesday it plans to move its Israeli equity research team from Tel Aviv to London
in the near term as part of a restructuring in its global research department.
It was not immediately clear whether the three members of the Israeli team would accept a move to London but a spokeswoman for the firm said they have been offered the opportunity to move. The analysts declined to comment on their future plans.
Much of Israel research at Lehman comes from outside Tel Aviv, with analysts in New York covering Israel's numerous technology firms - many of which trade on Nasdaq - and the banking sector covered out of London.
Last month, Lehman overhauled its ratings system, with companies being assigned either overweight, neutral weight or underweight. Rather than having Israel-only analysts, Israeli companies will now be covered by sector analysts.
"The company decided that since it changed the ratings it would be best to have one point and that is London," the Lehman spokeswoman said, noting New York will also continue as a key research center.
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