It is thought that the bank will cover the region's M & A activity from Hong Kong.
Singapore experienced a record year in terms of mergers and acquisition deals last year and Lehman came in a lowly 20th in published league tables. The bank also failed to win any major public share sale mandates.
It is not known how many staff are to lose their jobs.
Lehman Closes Investment Banking Unit
Lehman Brothers, the fourth largest securities firm by capital, is believed to have closed its investment banking unit in Singapore after having failed to make an impression in the area.
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