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Three Key Players at Lehman: Where Are They a Year Later?

With the one-year anniversary of the collapse of Lehman approaching, the top players at the firm—former CEO Dick Fuld, President Joe Gregory and CFO Erin Callan—are no longer Wall Street power players.

Yet they are far from forgotten. Investigators continue to examine what led up to the firm’s bankruptcy filing in September 2008 and whether key Lehman executives made proper disclosures about the firm’s financial health as it was imploding.

  • Video: CNBC's Charlie Gasparino discusses where the key players from Lehman are now.

A question often asked on Wall Street is where are they now nearly a year after the firm’s demise. Here's a look.

CEO Dick Fuld

Friends of Fuld say he is trying to resurrect of a career of some kind. He works out of an office in midtown Manhattan trying to remake himself as an advisor of some sort on financial transactions.

Dick Fuld
Dick Fuld

He has contacted CEOs on the Street looking for business. And he has told people that while he has a couple of clients, his business prospects are limited until—as one friend of his put it— “the dust settles” on the legal issues surrounding Lehman.

The reason Fuld needs to work, according to friends: He needs money.

“He took a tremendous financial hit,” says a friend, because most of his net worth was tied up in Lehman stock.

Fuld, who has made headlines for selling assets—including his collection of fancy art—didn’t return repeated telephone calls for comment.

President Joe Gregory

While Fuld is looking for work, Gregory isn’t, according to people who know him. He spends much of his time at home and away from Wall Street.

Joseph Gregory
Joseph Gregory

While serving as company president—and Fuld’s No. 2—he was known for his extravagant lifestyle, including traveling by helicopter from his Long Island estate to Lehman’s New York headquarters.

But like Fuld, he took a major hit when Lehman went bust. More recently, he has been trying to unwind chunks of that lifestyle by selling his New York apartment and the helicopter.

Gregory has also filed a claim with the bankruptcy court to recoup $233 million in compensation he believes he is owed.

CFO Erin Callan

After a meteoric rise as Lehman’s CFO—where she was considered a Wall Street rock star—Callan fell just as fast. She defended Lehman’s financial status from attacks from short seller David Einhorn—who turned out to be largely accurate.

Erin Callan
Erin Callan

She then resigned as CFO (Gregory resigned as president the same day) and left Lehman to take a job at Credit Suisse.

But since February of this year, Callan has been on “personal leave, indeterminately,” according to a Credit Suisse spokeswoman.

Her attorney declined repeated requests for comment. But people who know Callan say the intense stress from the Lehman disaster is one reason why she hasn’t returned to work.