EUROPE – Lehman Brothers has named Paul Marchington, formerly of Deutsche Bank, as managing director and European head of transition management.

The investment bank said Marchington would report to Emad Morrar, managing director of execution services.

“In his new role, Mr Marchington will be responsible for the development and continued growth of the Transition Management business in Europe and the Middle East,” Lehman said.

“The division, which advises on the strategic restructuring of multi-asset investment portfolios resulting from asset-allocation and liability funding decisions, asset manager selection or investment policy changes, is a key capital markets initiative for Lehman Brothers.”

The unit would offer services to all asset owners, including pension funds, insurance companies and government funds.

“Paul joins Lehman Brothers with over 17 years of financial market experience which will assist the firm’s continued expansion in this key area,” said Morrar.

The firm said that Marchington previously spent seven years at Deutsche Bank, most recently as head of European transition management.