Lehman Brothers announces that effective immediately Eric Felder and Hyung Soon Lee have been appointed global co-heads of Fixed Income and that Riccardo Banchetti and Christian Meissner have been appointed co-chief executive officers of Europe and the Middle East. Felder, Lee, Banchetti and Meissner will all join the Firm’s Executive Committee.
“We are making these changes, drawing on our deep bench strength to put new leaders with complementary expertise, outstanding risk management capabilities and excellent operating track records in new responsibilities,” says Richard S. Fuld, Jr., chairman and chief executive officer.
Jeremy M. Isaacs, who since 2000 has served as chief executive officer for Europe, the Middle East and Asia-Pacific and on the Lehman Brothers Executive Committee, has decided to retire from the Firm at the end of the year. Until that time, he will serve as non-executive chairman of Europe and the Middle East, and continue to focus on clients.
Andrew Morton, global head of Fixed Income since February 2008, and Benoit Savoret, chief operating officer of Europe and the Middle East since May 2007, have decided to leave the Firm to pursue other interests.
Felder, 37, joined the Firm in 1994. Prior to his current role as head of Global Credit Products and Municipal Finance, he served as global head of High Grade Credit and co-head of Global Credit Products, Americas.
Lee, 39, joined the Firm in 1993. Most recently head of Capital Markets, Asia-Pacific, Lee has also served as head of Fixed Income, Asia-Pacific and head of High Yield Distressed Trading, Asia.
Banchetti, 42, joined the Firm in 1993. Most recently chief executive officer of Italy, he has also served as head of Fixed Income Sales, Europe, and head of Fixed Income, Italy.
Meissner, 39, joined the Firm in 2004 as co-head of Investment Banking, Germany and Austria. He was most recently head of Investment Banking, Europe and the Middle East.
D.C.