Tom Troy moves back to New York to assume Joyce's previous position as head of US equities. He was previously head of equities for Europe, Middle East and Africa and will be replaced by Sergio Ermotti, who has been running the global equity linked division. Ermotti's former role will be split between David Lund and Rafael Berber. Steve Davenport and Junichi Nagaya will take over from Lund as co-heads of Japanese equities, while Simon Brookhouse replaces Davenport as head of Australasian equities. Julie Lamirel has been appointed as a senior European telecoms analyst at Lehman Brothers. She will cover emerging carrier companies, working closely with James Barford. Lamirel has been a senior telecoms analyst at Paribas since February 1998 where she covered telecom operators and carriers. She will be based in London, reporting to Paul Norris. For two years prior to her role as an analyst, Lamirel managed a team in the Paribas media and telecommunications finance group, providing structured financing for major media and telecoms projects. Previously she worked for four years within the bank's real estate finance group. Independent stockbroker Teather & Greenwood has announced 11 promotions to director. Vic Andrews, Peter Bartlett and Charles van Straubenzee become directors of institutional sales, Peter Brown becomes a market making director. Russell Cook, Peter Trevelyan-Clark and Martin Sherwood become directors in the corporate finance department. Martin Lampshire becomes a director of corporate broking and Martin Cross, Nigel Popham and David Taylor become directors in the research department.