Italian giant names new chief exec

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Costas Michaelides has been appointed chief operating officer at Donaldson, Lufkin & Jenrette International, responsible for managing operational and financial functions outside the US. Michaelides joins from Merrill Lynch, where he started in 1988 and served as chief administrative officer and managing director from 1994. Lehman Brothers has announced several senior management changes at Lehman Brothers Asia. Daniel Tyree has been appointed head of global marketing and corporate relations, based in New York. He has been chairman of Lehman in Asia since 1995. Jarett Wait becomes chief executive officer of Lehman Brothers Asia, based in Tokyo. He previously served as chief operating officer. Jasjit Bhattal becomes chairman of Lehman Brothers Asia Pacific, based in Hong Kong. He will continue his role as head of investment banking for Asia Pacific.

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