EUROPE - Nigel Cresswell, head of the Lehman Bros' pensions advisory team for Germany and Switzerland, has resigned after just a year with the firm, IPE has learnt.

Alan Rubenstein, head of European pensions advisory team, confirmed to IPE Cresswell "has left the company" but declined to comment further on the status of Lehman's European pensions consulting team or on a replacement for Cresswell.

The revelation is especially interesting as Cresswell had followed Rubenstein to Lehman Bros in January 2007 after working together in Morgan Stanley's pensions operation.

It is unclear at this stage who will replace Cresswell though it is understood the team is "carrying on as normal".

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