As predicted by eFinancialCareers.com in January, Lehman Brothers has moved into the realm of pensions restructuring. There may be more hires to come.
Today, Lehman Brothers announced the appointment of Alan Rubenstein, a pensions restructuring veteran from Morgan Stanley, as managing director and European head of a new pensions advisory group.
Rubenstein will start at the bank in May, following a period of extended gardening leave. The Times reports that he is expected to enlarge the group following his arrival, but sources at Lehman told us it was too early to say how many people might be added.
In January, Kim Yates, a director at London-based search firm Principal Search, said the pensions advisory sector was likely to be a hot hiring area this year, with several banks seeking to challenge Morgan Stanley and Goldman Sachs, who are the market leaders in this space.