Three Lehman executives to go in staff shuffle

Three senior directors are leaving Lehman Brothers as the firm shuffles its team of global executives.

Jeremy Isaacs, chief executive officer for Europe, the Middle East and Asia-Pacific, has decided to retire at the end of 2008.

Until that time, he will serve as non-executive chairman of Europe and the Middle East, and continue to focus on clients.

Andrew Morton, global head of fixed income, and Benoit Savoret, chief operating officer of Europe and the Middle East, have decided to leave Lehman to pursue other interests.

Richard Fuld, chairman and chief executive officer of Lehman, says: “We are making these changes, drawing on our deep bench strength to put leaders with complementary expertise, outstanding risk management capabilities and excellent operating track records in new responsibilities.”