Wall Street firms are enjoying richer times as markets have perked up
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US investment bank Lehman Brothers is looking to buy European mortgage lenders, according to a report.
Its chief financial officer, Chris O'Meara, told Reuters that while its US mortgage business was solid, it did limited lending in Europe.
The announcement came as Lehman announced pre-tax profits in the three months to August 25 were $916m, 4% higher than a year before.
This was despite falling revenues from investment banking and underwriting.
On Tuesday, Goldman Sachs said its profits were better than expected, despite slow summer business.
Strong investment banking and trading revenue brought net profit of $1.59bn (£848m) in the three months to 25 August, from $1.62bn a year ago.
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