Lehman Brothers, the global investment bank, today announced that Satu Parikh has been named global head of Commodities. Previously, he was head of Liquid Markets, Asia, which included coverage of rates, foreign exchange and commodities. Mr. Parikh will relocate to the Firm’s headquarters in New York and report to Kaushik Amin, global head of Liquid Markets.
Thomas Siegmund will relocate to Tokyo from London to run Liquid Markets, Asia, replacing Mr. Parikh. In his previous role, he served as head of Swaps and Governments, Europe. Mr. Siegmund will report locally to Hyung Lee, head of Equities and Fixed Income, Asia, and globally to Mr. Amin.
“Satu's strong technical background in derivatives and his track record of building businesses will contribute significantly to the continued expansion of our capabilities and the breadth of our global commodities platform,” said Mr. Amin. “We look forward to integrating his knowledge and capabilities into our team, and providing our clients with additional expertise.”
The Firm has also appointed Brian Manson as head of North American Natural Gas Trading, based in New York. He will report to Mr. Parikh. Mr. Manson will leverage his experience in the natural gas sector to further grow the Firm’s platform in that field. Prior to joining Lehman Brothers in 2005, Mr. Manson was president and CEO of TD Energy.
Following Mr. Siegmund’s relocation, Kieran Higgins will become head of Interest Rate Products, Europe, reporting to Andy Morton, co-head of Fixed Income, Europe and globally to Mr. Amin. In addition to his existing role as head of Options and Exotics Trading, Europe, he will also take responsibility for Swaps and Governments Trading in the region.
Lehman Brothers’ commodities business complements the Firm’s existing strength in natural resources and energy investment banking, and covers a full range of sales, trading and structured finance in commodities globally. In July 2006, the Firm launched the Lehman Brothers Commodity Index, an objective and rules-based index of U.S. dollar-denominated commodities futures that uses liquidity as defined by futures trading volumes as the primary criteria for commodity selection and weighting. The Firm’s commodities business has operations in the world’s main commodities hubs.
Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products and recruitment opportunities, visit the Firm’s Web site at www.lehman.com.
