Now Lehman Brothers has finally confirmed the rumours that it is putting up for sale a controlling stake in its investment management division, principally its wealth management unit Neuberger Berman, bankers are rushing to get in touch with likely buyers.

Bankers say private equity firms seem to be the only players in town at the moment, despite their supposed difficulties raising debt finance. Buyout firms TA Associates, Carlyle, Blackstone Group and Fortress each have the cash, know-how and appetite for a deal and are thought of as likely contenders.