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Lehman Shuffles the Pack in Europe

Lehman Brothers has made three further appointments to its European fixed income operation. At the top of the tree, it has appointed Riccardo Banchetti in a newly-created role as chief executive officer for Italy. He will report to Roger Nagioff, chief operating officer for Europe.

For the past four years, Banchetti has been head of European fixed income sales and, for the last year, chief operating officer for Italy, having joined Lehman in 1993 in interest rate derivatives. Since that time he has held a variety of positions, including head of interest rate derivative sales, and head of fixed income sales for Italy. He will remain a member of Lehman’s European executive committee in his new role.

Following Banchetti’s appointment, Lehman says David Bizer will be returning to Europe from the US to assume the position as head of european fixed income sales. In his new role, he will be responsible for managing all aspects of fixed incomes sales in Europe, including liquid market credit, mortgage and structured finance.

Bizer will report to both Andy Morton, head of European fixed income and Tom Humphrey, global head of fixed income sales.

Additionally, Philippe Dufournier will take on a newly created role running all of the fixed income solutions businesses across global finance and fixed income. His mandate will include the risk solutions, pension solutions, intellectual capital and structured solutions groups. Dufournier will also report to Morton and Humphrey, and will continue to report to Philip Lynch, head of global finance, Europe.

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