EUROPE – Investment banking group Lehman Brothers has hired former Credit Agricole executive Thierry Sciard as head of investment management for Europe, a new role.

The firm, which advised on the €5bn transfer of Belgacom’s pension fund to the Belgian State, said Sciard would be based in London and report to Roger Nagioff, chief operating officer for Europe and Ted Janulis, global head of investment management.

There are 130 staff involved in investment management in Europe, a spokeswoman said, out of 2,100 globally. The firm has total assets under management of $137bn, according to its annual report.

The investment management unit, formerly called client services, had revenues of $1.7bn in 2004.

“Thierry’s appointment represents an important step in the ongoing development of our global investment management platform,” said Jeremy Isaacs, Lehman’s chief executive for Europe and Asia.

“We are confident that Thierry’s extensive experience of building and managing businesses will make a major contribution to the development of our business in Europe.”

Sciard was formerly global head of the capital markets at Calyon, the investment banking arm of Credit Agricole, Lehman said. He was also responsible for the bank’s alternatives unit Equalt.

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