Erin Callan, Credit Suisse Group's New York-based managing director and head of global hedge funds, took a personal leave of absence. A spokesperson didn't say how long -- though it may have been for five months -- or why Callan had left, but that the hedge fund business would carry on as usual.
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Callan took the position in September after 13 years at Lehman Brothers
Holdings Inc., where she was chief financial officer and a member of
the executive committee. She was
ousted after only holding the CFO post for six months as
Lehman filed for bankruptcy a few months later.
It has been reported
that Callan, along with other executives, including then-Lehman CEO
Dick Fuld, are
facing subpoenas regarding the banks collapse.
And a Dealbreaker report thinks a reader's suggestion of Callan having a "nervous breakdown" Wednesday morning may be true. Whether the rumor is true and relates to Callan facing legal trouble or feeling serious empathy for former Lehmanites and the firm's investors, remains to be seen. -
Baz HiralalSee the Dealbreaker post
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THE STORY OF DICK "HEAD IN THE AIR" FULD
(Johnny Head in Air, From Struwwelpeter)
WilliamBanzai7
As he trudged along like an arrogant Wall Street fool,
It was always Dickie Fuld's golden rule
To be looking at the pie in the market sky
Even as the subprime meltdown clouds floated by;
But what calamity just before him and Lehman lay,
In his way,
Dickie never thought about;
So that every one cried out
"Look at little Dickie Fuld there,
Little Dickie Head-In-Air!"
Running just in Dickie's way
Came a big market Bear one day;
Dickies's eyes were still astray
Up on high,
In the irrationally inflated subprime sky;
And he never heard them cry
"Dickie, mind, the Bear is nigh!"
Bump!
Dump!
Down they fell, with such a thump,
Bear and Dickie in a lump!
Once, with head as high as ever,
Dickie walked beside the subprime river.
Dickie watched the derivative traders trying
Which was cleverest at riskless flying.
Oh! what fun!
Dickie watched the bright round Wall Street sun
Going in and coming out;
This was all he thought about.
So he strode on, only think!
To the subprime river's very red brink,
Where the risk of bankruptcy was high and steep,
And the MTM water very deep;
And the Lehman fishes, in a row,
Stared to see him coming so.
One step more! oh! sad to tell!
Headlong in poor Dickie Fuld fell.
And the Lehman fishes, in dismay,
Wagged their tails and swam away.
There lay Dickie on his face,
With his nice red writing-case.