Bart McDade is partner and CEO at River Birch Capital.
McDade (Herbert H. McDade III) was formerly the COO and president of Lehman Brothers. He was one of a handful of top Lehman executives offered a job at Barclays after the British bank bought Lehman's U.S. operations when Lehman declared bankruptcy in September 2008. However, he stepped down from his position at Barclays in November 2008, after less than two months helping Barclays integrate Lehman Brothers' investment banking arm into its operations.
On June 12, 2008, Lehman chief operating officer Joseph M. Gregory and CFO Erin Callan were removed from their positions shortly after it was announced Lehman would post an unexpectedly large second-quarter loss of nearly $3 billion. Ian Lowitt, formerly chief administrative officer, was named the new CFO. Both Gregory and Callan would remain at the investment bank in other jobs.
McDade is a member of board of the Securities Industry and Financial Markets Association.
Prior to becoming president of Lehman's in June 2008, he served as global head of the Equities division from June of 2005. McDade also served as global head of the Fixed Income division from 2002 to 2005 and as co-head of the Fixed Income division from 2000 to 2002. He is a member of Lehman Brothers' Executive Committee.
McDade joined Lehman's in 1983 in corporate bond trading. He was named head of the firm's corporate bond department in 1991. In 1998, he was named global head of Debt Capital Markets and a member of the Investment Banking division's group head committee. In 2000, in addition to being appointed co-head of the firm's Global Fixed Income division, McDade was named to the firm's Operating Committee.
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