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A vulture leaves the nest

Last month the Wall Street veteran announced plans to spin off the restructuring group he runs for Dresdner Kleinwort Wasserstein into a new firm, Miller Buckfire Lewis & Co.

Last month the Wall Street veteran announced plans to spin off the restructuring group he runs for Dresdner Kleinwort Wasserstein into a new firm, Miller Buckfire Lewis & Co. The U.S. bankruptcy code prohibits a company's lenders from advising on its reorganization, says Miller, and that put the kibosh on dozens of potential assignments for his group at Dresdner. With debt levels still dangerously high for many companies and the economy still teetering, Miller has no fears about finding reorganization work for his baby investment bank. Says Miller, "It's the ultimate contrarian business."