Lehman Brothers has seen a changing of the guard at the head of its global fixed income division, a market area generally hit hard by the U.S. mortgage woe-sparked credit crunch. Roger Nagioff has retired, citing personal reasons, and the firm has promoted one of the unit¹s co-chief operating officers, Andrew J. Morton, to succeed him. In addition, Lehman has named as co-heads of fixed income for Europe and the Middle East: Georges Assi, the global head of the collateralized debt obligation and structured credit businesses and head of credit products for Europe and the Middle East; and Kieran Higgins, head of interest rate products for Europe and the Middle East. Both Mr. Higgins and Mr. Assi will continue to serve in their previous roles.
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