Ex-employees of the beleaguered Lehman Brothers? backoffice operations are putting together pieces of their rattled career, bit-by-bit.
For those who have decided to stay on, concerns abound. Japan?s Nomura Holdings? acquisition of Lehman Brothers? Asia operations did not include the latter?s Powai facility, as it falls under the management of New York rather than Asia Pacific.
On the other hand, those who have opted to move out of Lehman, mostly at the senior and mid levels, are now looking at new, and more stable stints at new workplaces, including BPOs and other financial services companies.
Though only few have managed a raise as they shifted, many have been remunerated at par with their Lehman pay scales, and despite having to give up the Lehman tag, swear by stability and security at the workplace.
?I am trying to adjust to a life outside Lehman,? said Shivesh Kapoor (name changed), a mid-level Lehman employee who has recently joined another financial institution.
However, many of the 2,200 backoffice staff are still in a wait-and-watch mode. They are finding it difficult to give up the Lehman brand name, pay package and bonuses.
Headhunting firms, who are placing Lehman employees in other companies, reveal Morgan Stanley, Goldman Sachs, other investment banks and BPOs are looking to poach the former?s mid to senior level employees.
A Mumbai based BPO unit, on condition of anonymity, said, ?We have hired two Lehman employees at the mid-level and at the same salary. They agreed to work with us owing to greater responsibilities and better designation offered by us.?
?We are open to hire Lehman employees at the mid or senior level. The headhunters are approaching us for recruiting them.? said the spokesperson of a leading BPO in Mumbai.