Lehman Brothers' Jeff Biby is assuming the role of head of the firm's well-respected Liquid Markets Research Group. He takes over from Andy Sparks, who says he will continue to maintain a senior administrative role within the fixed-income research department. Sparks describes his new job as more of the same--"Jeff will be reporting in to me, but he will be running things on a day-to-day basis." He declined to comment on why the move was being made now, or if it was part of a broader re-alignment at Lehman. As part of the move, Biby says he will continue to run the firm's interest-rate strategies group, covering governments and rate derivatives, as well as agencies. "I may continue to write or advise on Treasury derivatives from time-to-time," he says, adding that he sees no personnel changes in the foreseeable future.
Prior to joining the firm's interest-rate strategies group as chief nearly three years ago, Biby ran mortgage-backed security strategy--the slot currently occupied byInstitutional Investor All-America Fixed-Income Research Team second place finisher Srinivas Modokuri.