Michael Peier, head of emerging market foreign exchange and derivatives at Lehman Brothers in Tokyo, resigned last week to take a break from the industry. He has been replaced by Joe Rigby, a swaps and foreign exchange trader at the firm in Tokyo, according to market officials.
Peier reported to Hiroyuki Mukaibo, senior v.p., head of foreign exchange in Tokyo, and to Tarun Jotwani, managing director, head of fixed income-Asia in Tokyo. Peier and Rigby declined comment. Mukaibo and Jotwani did not return calls.
A trader at a rival bank in Tokyo said Peier had been in the industry for some 10 years and was well respected. He added that Rigby was a logical choice for his replacement.
