Lehman names co-heads of corporate finance

Mon Feb 12, 2007 12:01am EST

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PHILADELPHIA Feb 12 (Reuters) - U.S. investment bank Lehman Brothers Holdings Inc. LEH.N said on Monday that Joseph Gatto and Ros Stephenson will serve as co-heads of corporate finance, in addition to their existing duties.

Gatto will maintain his role as chairman of mergers and acquisitions, while Stephenson will continue in her role as a global co-head of the financial sponsors group with Richard Atterbury, Lehman said.

"Ros and Joe will focus on the day-to-day management of the industry groups, and work with their regional and product partners to drive the investment banking division's strategic initiatives," said Skip McGee, Lehman's head of investment banking.

John Miller, a managing director in the financial sponsors group, will become U.S. head of financial sponsors, Lehman said.

Separately, Lehman confirmed that investment banker Woody Young resigned on Friday. The Wall Street Journal reported that Young, who worked in telecommunications investment banking, had "a strategic disagreement with Lehman's management."

Information about Young's future plans was not available, and Young could not be immediately reached for comment.

"Woody Young has made valuable contributions to our investment banking franchise. We wish him well," Lehman said in a statement.

The firm declined to elaborate.

((Reporting by Jessica Hall, editing by Ian Geoghegan; jessica.hall@reuters.com; 215-922-1086)) Keywords: LEHMAN PERSONNEL

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