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Founded in 1850, Lehman Brothers grew from a general store into the fourth-largest investment bank in the United States. The firm was a major player in global finance, offering a wide range of services including investment banking (M&A advisory and underwriting), equity and fixed-income sales, trading, and research, investment management, private equity, and private banking. Its collapse was primarily triggered by its heavy involvement in the subprime mortgage market, which led to a catastrophic loss of confidence from its clients and counterparties, ultimately resulting in its historic bankruptcy.