Lehman Brothers, the global investment bank, announced that Michael Gelband and Alex Kirk are rejoining the firm as global head of capital markets and global head of principal investing, respectively, and will report to Herbert (Bart) McDade III, president and COO. Dave Goldfarb will assume therole of chief strategy officer. Goldfarb will continue to serve on the executive committee and will also report to McDade. In addition, Gerald Donini has been named global head of equities and will report to Gelband. Gelband, Kirk and Donini will join the firm’s executive committee.
“We are delighted to welcome Mike and Alex back to the Firm,” says Richard S. Fuld, Jr., chairman and chief executive officer. “Mike and Alex brought deep expertise, client focus and uncompromising integrity to the senior leadership positions they held in the Fixed Income division and are well suited to lead the Firm forward and deliver operational excellence.”
In regard to Doninis position, McDade added, “Jerry has developed a breadth and depth of experience across several businesses within the equities division. His strong client focus and risk management skills will further accelerate the momentum and continued success of our equities business worldwide.”
Gelband, 49, joined Lehman Brothers in 1983. During his tenure, he held several senior roles, most recently as global head of fixed income from 2005 to 2007. Prior to that position he served as head of fixed income liquid markets, with responsibility for interest rate products, foreign exchange and securitised products. In addition, Gelband has overseen several businesses in fixed income, including central funding, futures, insurance products, interest rate derivatives, Asia fixed income and mortgage-backed derivatives trading.
From 1994 to 2008, Kirk, 48, held several important leadership roles in Lehman Brothers fixed income division. He most recently served as co-chief operating officer for the fixed income division and was head of global credit products, with responsibility for the CDO, high grade, high yield, structured credit and emerging markets credit businesses. Prior to that, Kirk was global head of the high yield business from 2002 to 2006. He previously served as global head of the distressed debt business with responsibility for trading, sales and research.
Goldfarb, 51, most recently served as global head of strategic partnerships, principal investing and risk, a position he has held since 2006. From 2004 to 2006, Goldfarb was chief administrative officer and, prior to that, served as chief financial officer from 2000 to 2004. Additionally, he served as global controller from 1995 to 2000. Goldfarb joined Lehman Brothers in 1993.
Prioor to his current position, Donini, 44, served as head of Americas equities. From 2000 to 2004, he was head of global derivatives trading and from 2004 to 2007, served as head of U.S. equity trading. He joined Lehman Brothers in 1998 as head of U.S. derivatives trading.