Lehman’s index group

When a bank has a stranglehold on a particular market, you might expect that grip to slacken from time to time. But Steve Berkley, head of Lehman Brothers’ fixed-income index group, has no intention of letting his team’s dominant position in the index market slip away. Dalia Fahmy reports

Steve Berkley, head of Lehman Brothers Fixed Income Indices, says he won’t be reachable for a week because he’ll be traveling through Mongolia and his Blackberry might not work. It’s difficult to imagine why he would need such a device while trekking through the Gobi desert, but the native New Yorker thrives on contradictions. His business is one of the least glamorous yet most successful on Wall Street; at work he helps clients minimize risk but in his spare time he courts danger, once barely