Lehman Brothers has launched a sweeping shake-up of its senior management in a move that will see a number of executives, including the head of its international operations, leave the embattled Wall Street bank.
Jeremy Isaacs, the long-serving chief executive of Lehman's businesses in Europe and Asia, is giving up his executive role and will leave the bank at the end of the year, according to people briefed on the plans.
Benoit Savaret, chief operating officer for Europe and the Middle East, and Andrew Morton, promoted this year to run Lehman's key fixed income division, are also stepping down.
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