GERMANY - Nigel Cresswell, the former head of the Lehman Bros' pensions advisory team for Germany and Switzerland, has been tapped to lead Towers Perrin's new European investment consulting group in Munich.

Cresswell (pictured) left Lehman in June 2008 after being at the company for just a year, and having followed Alan Rubenstein to Lehman Bros in January 2007 from Morgan Stanley's pensions operation. (See earlier IPE story: Cresswell leaves Lehmans' pensions team)

Towers Perrin said today it was expanding its pensions-related investment consulting business by forming the new office in Germany.

Elsewhere, Towers Perrin has lost Lodewijk van Pol, its head of asset management consulting, as he is joining Lombard Odier in its push for fiduciary management business.

Van Pol has been named as head of fiduciary management, as the bank said it wants to become "the private bank for the institutional world".

Rubenstein was named earlier this month as the new chief executive of the Pension Protection Fund (See earlier IPE story: Rubenstein to take over as PPF chief)

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