Trading, Merger Fees Drive Lehman Net Up 53%.(A)(LEHMAN)

NEW YORK (Reuters) - Lehman Bros. Holdings, one of Wall Street's last independent investment banks, reported a 53% rise in profit, driven by trading gains and merger fees.

The gains in profit came against strong year-ago results, when earnings were up100%. Total revenue grew 54% in the quarter to $7.4 billion.

Lehman, rumored to be a takeover target as the financial services sector consolidates, pulled in more than $1 billion from trading sto

cks and bonds, more than double what it made last year. The 150-year-old firm also benefited from its expansion overseas into businesses like advising on mergers.

Lehman, whose board approved a 2-for-1 …