Instead, an emphasis is being put on providing advice to and underwriting securities for medium-sized corporations.

Higher revenue from underwriting securities, commissions and trading businesses contributed to the sharp increase, the company said.

Of that, fees for underwriting securities tripled from a year earlier to $71 million.

And it leaves no goodies for smaller banks that would like to sell insurance, but could care less about underwriting securities.

The company benefited from a boom in underwriting securities and from very lucrative markets for trading.

And the business of Lehman - executing trades, underwriting securities and managing money - might not get done.

The banking business does not include underwriting securities and trading securities.

Too much money was being made underwriting securities and executing trades.

Fees to investment banks for underwriting securities have also fallen.

The firm developed a specialization in underwriting securities for public utilities as well as trust certificates.