Lehman make management changes

Following the departure of current global head Andrew Morton, Lehman Brothers Holdings Inc said on Sunday that it has named Eric Felder and Hyung Soon Lee as global co-heads of fixed income.

The struggling U.S. bank also said it has appointed Riccardo Banchetti and Christian Meissner co-chief executive officers of Europe and the Middle East and announced that Jeremy Isaacs will retire as chief executive officer for Europe, the Middle East and Asia-Pacific at the end of the year.

Lehman Chief Executive Officer Dick Fuld said in the statement that the appointments draw on the bank’s “deep bench strength.” The fourth-biggest U.S. investment bank is under pressure to raise capital.

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