Company Performance Metrics
Richard Handler: Junk Bond TraderPast Role: The First Boston Corporation, Financial Analyst
Joseph Contorno: Team MemberPast Role: Eagle Rock Proxy Advisors LLC, Senior Managing Director
Drexel Burnham Lambert was a leading U.S.-based investment banking firm which was forced into bankruptcy following violations of securities laws.
The firm was founded by I.W. Burnham in 1935 as Burnham and Company. The company primarily dealt in retail brokerage and went to become one of the most successful brokerages in the U.S. Drexel
Burnham Lambert was formed following a series of mergers that included Drexel, Morgan & Co and Harriman, Ripley and Company. The new entity then merged with Burnham and Drexel Burnham and Company was formed in 1973.
The new firm focused on advisory services and soon entered the investment banking business. At its height the company made a net profit of US$ 550 million in 1986. The company soon became embroiled in controversy on charges of insider trading and was forced into bankruptcy after illegal dealings in speculative bonds.
The firm was wound up in 1990.
