Lehman Brothers has appointed Eric Felder and Hyung Soon Lee as global co-heads of fixed income.
Before his appointment as head of global credit, Felder served as global head of high-grade credit and co-head of global credit products for the Americas. Lee, also a current employee of Lehman, will leave his post as head of capital markets for Asia-Pacific to share responsibility for fixed income with Felder.
Lehman’s reshuffle takes place against the backdrop of its poor performance in the second quarter of this year, when the bank reported a net loss of $2.8 billion, and persistent rumours that the bank has asked the Federal Reserve for emergency funding.
New appointments have been accompanied by news of numerous departures, including that of Jeremy Isaacs, the bank’s chief executive officer for Europe, the Middle East and Asia-Pacific, who will leave at the end of the year.
Andrew Morton, global head of fixed income, and Benoit Savoret, chief operating officer for Europe and the Middle East, have also decided to leave the firm. Lehman said that at present it has no idea where Morton will go.
More on People
Bank veterans Bristow and Pluta promoted to global co-heads, reporting to Rohrbaugh
US firm recruits externally as it looks to boost savings business
US bank parts company with 15-year veteran who moves to the buy side
Chris Leone and Dushyant Chadha replace Paul Galietto
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.