- Benoit C. Savoret Named Chief Operating Officer of Europe -
NEW YORK, May 2 /PRNewswire/ -- Lehman Brothers, the global investment
bank, today announced that Roger B. Nagioff has been named global head of
the Firm's Fixed Income Division, based in London. He succeeds Michael
Gelband who has decided to leave the Firm to pursue other interests. In
addition, Benoit C. Savoret will assume the role of chief operating officer
of Europe.
Chairman and Chief Executive Officer Richard S. Fuld, Jr. said,
"Roger's appointment underscores the truly global nature of our businesses
as this is the first time a sole global head of one of the Firm's divisions
will be located outside the U.S. I am confident that Roger's track record
of success, which includes helping to integrate all of our businesses in a
way that embodies our One Firm culture, will further strengthen our
leadership position in fixed income." Mr. Fuld continued, "Mike has brought
deep expertise, extraordinary client focus and uncompromising integrity to
every position he has held at Lehman Brothers. We wish him all the best in
the future."
Commenting on Mr. Savoret's appointment, Mr. Fuld added, "During
Benoit's tenure as head of European Equities, the division has achieved
tremendous success. His management and leadership capabilities will be
invaluable to the Firm as we continue to drive our strong momentum in
Europe."
Mr. Nagioff joined Lehman Brothers in 1997 to head up the Firm's
European Equity Trading efforts. Two years later he was named head of the
European Equities Division. In 2000, Mr. Nagioff became co-head of Global
Equities and, subsequently, was named chief operating officer for Europe in
January 2004. He is a member of the Firm's Executive Committee.
Mr. Savoret joined Lehman Brothers in 1997 as a senior equity
derivatives trader covering France and Italy. He was named head of Asia
Equities in 2000, head of European Equity Trading and Equity Derivatives in
2002, co-head of European Equities in 2004 and sole head of European
Equities in 2006. Prior to joining the Firm, Mr. Savoret worked for Societe
Generale in the U.S., U.K. and Asia. Mr. Savoret graduated as a Civil
Engineer from Ecole Centrale Paris.
Lehman Brothers' Fixed Income Capital Markets, which reported net
revenues of $2.2 billion in the first quarter of fiscal 2007, is
consistently recognized for its performance in a number of polls and
industry awards. The Firm's Fixed Income Research Team has held the #1
ranking in 13 of the past 17 years, and has been ranked as the #1 U.S. bond
index provider each year since rankings began in 1997 by Institutional
Investor magazine. Lehman Brothers was also ranked #1 in Bond Index
Research and Analysis in Institutional Investor magazine's All-Europe Fixed
Income Research survey in 2006 and was top ranked in Euromoney's Credit
Research poll in both 2005 and 2006. The Firm is also a leader in credit
derivatives and was named Global Credit Derivatives House by IFR, Credit
Derivatives House of the Year by Risk and Asia Risk magazines and Bank of
the Year for Credit Derivatives by The Banker in 2006. Euromoney named the
Firm the Best Global Asset Backed Securities House and the Best Debt House
in Italy and IFR awarded the Firm the Global Securitization House of the
Year, in 2006.
Lehman Brothers (ticker symbol: LEH), an innovator in global finance,
serves the financial needs of corporations, governments and municipalities,
institutional clients, and high net worth individuals worldwide. Founded in
1850, Lehman Brothers maintains leadership positions in equity and fixed
income sales, trading and research, investment banking, private investment
management, asset management and private equity. The Firm is headquartered
in New York, with regional headquarters in London and Tokyo, and operates
in a network of offices around the world. For further information about
Lehman Brothers' services, products and recruitment opportunities, visit
the Firm's Web site at http://www.lehman.com.
Lehman Brothers Inc. Member SIPC
|
