Richard Fuld will step down from his position as chief executive officer of Lehman Brothers at the end of this year, remaining in his role as chairman.The now-defunct bank has named Bryan Marsal, currently chief restructuring officer, as his replacement.
Marsal is the co-chief executive officer of New York-based management consulting firm Alvarez & Marsal North America, which among its services advises on restructurings of major corporations.
Lehman Brothers filed for Chapter 11 bankruptcy on September 15 and its administrator, PricewaterhouseCoopers, expects the unwinding process will take years.
Sign up for Risk.net email alerts
UK, 25th - 26th Feb 2014
USA, 27th - 28th Feb 2014
UK, 5th - 6th Mar 2014
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.
Updating your subscription status
Risk iPad and iPhone Apps