Friday, June 13, 2008

Lehman Brothers - New CFO

Ms. Erin Ms. Callan, CFO will be replaced by Ian Lowitt, who has served as the firm’s co-chief administrative officer since October 2006.

Mr. Lowitt, who will replace her as Lehman’s finance chief, is a 14-year veteran of the firm and has served as its global treasurer, as well as global head of its tax operation.

His promotion to CFO could signal that Lehman Brothers is looking for more risk management and less risk-taking from its finance function. “He will be familiar with the balance sheet issues and can handle any counterparty concerns,” Mr. Hintz said. Mr. Brad Hintz,is a former Lehman CFO and now an analyst at Sanford C. Bernstein.

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