Property deal shows contrasting responses to NY attacks


NEW YORK -- Two contrasting responses to the op risk management issues raised for financial firms by the September 11 attacks on New York were seen in the property deal between investment banks Lehman Brothers and Morgan Stanley in October.

Lehman, which lost 22 floors of office space in and around the World Trade Center (WTC), bought Morgan Stanley’s new midtown Manhattan office tower at 745 Seventh Avenue, with the intention of moving its entire New York operation there by January 2002.


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