Veteran investment banker Felix Rohatyn is to join Wall Street’s Lehman Brothers to take up the position of chairman of its internal advisory committee.
A personal friend of Lehman Brothers’ chairman and chief executive Richard Fuld, Mr Rohatyn also act as a senior adviser to the firm, using is decades of investing experience that has led him to be regarded as one of the most influential bankers of recent decades.
“Lehman is a firm that I have known since my first days on Wall Street, and I have particularly admired its performance under the leadership of Dick Fuld and his colleagues,” says Mr Rohatyn. “I look forward to working with Dick and to contributing to Lehman Brothers’ continued success, while also remaining involved with non-profit activities important to my family and me.”
Mr Rohatyn, who is 78, will close down his own private advisory firm – Rohatyn Associates – as part of the agreement, although he will be able to retain his many positions in non-profit-making organizations.