Lehman tech sector loses more brokers
The Internet has claimed more brokers from Hong Kong.
Lynn JangJan recently left Lehman Brothers' technology investment banking operations to join a start-up founded by former Lehman boss Frank Au.
Richard Chappelear, also part of the technology investment banking team for Lehman, resigned two weeks ago for the new firm, a business-to-business group called Pacific NetMarkets.
The recent flurry of employees leaving to join the Internet sector would not completely change the way the big players manage the careers of their bankers.
'I think they're absolutely worried about it. The very simple situation is that the marketplace from the Internet side has very low barriers to entry at this stage,' he said.
'But the investment banks will survive. I think they may allow some strong performers to advance a little bit faster but they're not going to kill their hierarchy.'
