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.
More on People
Head of clearing and risk understood to be moving into private practice
Dealer rejigs multi-asset group management with internal promotions
Gérardin replaces Papiasse, who stays, but focuses on "remediation plan"
Former SG Asia sales head Nicolas Reille joins Natixis in Hong Kong
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.