Lehman Brothers: shuffling deckchairs

Lehman Brothers has served up an «amuse-bouche» of reshuffled management. The main meal should come next week when it is expected to report its third-quarter earnings and detail plans to spin off a bad bank stuffed full of billions of dollars of illiquid real estate assets. In the meantime, Jeremy Isaacs, the Europe and Asia boss, is quitting after Bart McDade pipped him to the post of chief executive Dick Fuld’s heir apparent in June. Various other senior posts are being shuffled as McDade put...