Richard “Dick” Fuld, the CEO who led investment bank Lehman Brothers up until its failure at the start of the Financial Crisis, is reportedly backing a multifamily office to make his way back into the money management business.
Citing public documents, Bloomberg reports that Fuld is behind Matrix Wealth Partners, which helps manage the wealth of small business owners. Matrix Wealth co-owners include Lehman alumni Matthew Rubin and Justin Gaines, who were also both Neuberger Berman executives before they launched the firm last year.
Fuld had set up a separate business, Matrix Advisors, in 2008 to help small and medium-sized companies raise funding.
According to Bloomberg, Wealth Partners and Advisors could form a partnership. While customers could go to Advisors for fundraising, Wealth Partners would help these businesses invest and grow their assets.
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