Lehman Brothers promoted Roger B. Nagioff to global head of its fixed-income division, which is based in London.
He succeeded Michael Gelband, who has left the firm to pursue other interests.
Benoit C. Savoret will succeed Mr. Nagioff as chief operating officer of Europe.
Mr. Nagioff has worked at the New York investment bank since 1997 and has been chief operating officer for Europe since January 2004.
He is a member of Lehman's executive committee.
Mr. Savoret joined Lehman in 1997 as a senior equity derivatives trader and has been its head of European equities since last year.
Lehman's fixed-income capital markets group reported fiscal first-quarter net revenue of $2.2 billion.
Its fixed-income research team has been ranked as the top U.S. bond index provider each year since rankings began in 1997 by Institutional Investor magazine.
