Lehman Brothers has reorganized its senior European equity officials, as part of its drive to build business on the continent. European equities has been split into three groups, with Siggi Thorkelsson, head of equity derivatives in Europe, now also covering convertibles and fund derivatives, run as a joint venture with fixed income. Mark Rutherford, former co-head of European equity sales, has taken on responsibility for a cash-focused group called execution services in addition to his head of sales role. Axel Kilian, head of equity derivatives sales, reports into both Rutherford and Thorkelsson. Equity finance is the third group, which includes prime brokerage run by Gunner Burkhart.
At a more senior level, Benoit Savoret, previously co-head of European equities with John Phizackerly, is now understood to be overall head of equities in London. Calls to both were returned by Mark Lane, spokesman, who declined immediate comment on precise roles, timing and reasons behind the reshuffle.