A ponderous global advance

Bulge-bracket Wall Street banks Lehman Brothers and Bear Stearns had, until recently, adopted a go-slow approach to expansion in Asia. While such judicious caution has ensured their survival, as opposed to the headlong rush of some of their rivals, both are now eager to throw their considerable resources at the region to tap into fast-growing markets. Elliot Wilson tracks the banks' efforts to develop their Asia footprints.