What Did We Lose with Lehman?

by Aman Singh Das | September 15, 2009

  • My Vault

Since everyone is somberly observing the first-year anniversary of Lehman's demise, here's some food for thought. Lehman Brothers was one of the few financial institutions that created and emphasized on their career progression program for women in finance.

Brought to us courtesy Bloomberg.com, the article says, "Launched in November 2005 and rolled out in New York, London, Hong Kong and Tokyo, Lehman Brothers Encore transformed the career prospects of hundreds of highly talented women in the financial sector. Encore was not an alumnae reunion nor a job fair wrapped up in touchy-feely language. Explains Anne Erni, the program's designer (who headed up Lehman's diversity initiatives between 2003 and 2008 and is now Head of Leadership, Learning and Diversity at Bloomberg LP), the aim was "to legitimize women who have off-ramped and create a new stream of experienced talent for the firm."

What this story brings to the forefront is a lurking fear among diversity practitioners and women associations: something very important might have died with the demise of Lehman. Although Merrill Lynch and Bank of America, among others, are continuing their development initiatives, the recession might have dealt them a blow that will take a long time to heal.

To read the complete story, click here.

Filed Under: CSR

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