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Lehman Brothers fills 4 senior positions



By AP
24 June 2008 @ 06:32 pm ET

NEW YORK - Lehman Brothers Holdings Inc. on Tuesday named four veterans of the embattled investment bank to senior roles overseeing capital markets, investing, strategy and equities.

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Returning to the company are Michael Gelband and Alex Kirk, who both held high-ranking positions in Lehman's fixed income division until last year.

Gelband, 49, was named global head of capital markets. He joined Lehman in 1983, most recently serving as global head of fixed income from 2005 to 2007.

Kirk, 48, will serve as the bank's new global head of principal investing. He was most recently co-chief operating officer for the fixed income division and head of the bank's global credit products unit.

Both men will report to newly named President and Chief Operating Officer Herbert (Bart) McDade III.

Meanwhile, Dave Goldfarb was named chief strategy officer. He will continue to report to McDade. Since 2006, the 51-year-old has served as global head of strategic partnerships, principal investing and risk.

Gerald Donini was named global head of equities, reporting to Gelbrand. Donini, 44, previously was head of Americas Equities.

COO McDade was previously global head of Lehman's equities division.

All four executives will serve on the bank's executive committee, where Goldfarb already holds a seat.

The appointments come less than two weeks after Lehman shook up its senior management following a $3 billion quarterly loss, removing Chief Financial Officer Erin Callan and Chief Operating Officer Joseph Gregory. Former Co-chief Administrative Officer Ian Lowitt replaced Callan as CFO.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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