The Indian Institute of Management, Ahmedabad (IIM-A) released a statement to respond to the theory about the possible setback followed by the fall of Lehman Brothers over its placements.

The statement acknowledged the impact of the fall of Lehman on Wall Street and said that the institute was not in a position to provide a clear account of the possible effect of the event on IIT-A. The IIT had long-term association with both Lehman and Merrill Lynch, who were among their prominent recruiters.

In the previous academic year, 11 postgraduate program students were hired by these companies. In 2007, 28 students were recruited and in 2006, the number was 20. However, the IIT declined to comment about the status of its alumni employed by these firms.

IIT-A stated that the status of the two firms was not likely to have a major impact on the placement of IIT-A students as the institution had a large and diverse pool of recruiters. According to IIT-A, its student pool was also diverse and students focusing on a career in finance would not change their decision as the current situation was only a short term impact. X