Thursday, global investment bank Lehman Brothers Holdings Inc. (LEH) named Chris O'Meara who has been serving as the company's chief financial officer since December of 2004, as the firm's global head of risk management.Erin Callan, who currently runs Lehman Brothers' Global Hedge Fund Coverage, will replace O'Meara as chief financial officer. Madelyn Antoncic, who served as the firm's global head of Risk Management for the past five years, is shifting to become the global head of Financial Market Policy Relations. Lehman Brothers, the biggest underwriter of U.S. mortgage bonds said that the appointments would come into effect from Dec.1, 2007.In her new role as CFO, Erin Callan will oversee the company's finance organization, including treasury, tax and financial control and reporting, and will join the Lehman Brothers' Executive Committee. Callan joined Lehman Brothers in 1995 and was named a managing director in June 2000. Callan has been heading the Global Hedge Fund Coverage, a new initiative since early 2006 within the company's Investment Banking Division. Prior to becoming the head of Global Hedge Fund Coverage, Callan lead the company's Global Finance Solutions Group and Global Finance Analytics Group within Investment Banking.As global head of Risk Management, Chris O'Meara will be responsible for all aspects of the company's risk profile, including oversight of risk management policies, procedures, analytics and metrics. In conjunction with the company's Executive Committee, O'Meara would also monitor firmwide risk appetite, trading limits and required equity capital.Chris O'Meara joined Lehman Brothers in 1994 and has served in various prominent roles including global controller, head of expense management and chief financial officer for investment banking before taking on the role of CFO in Dec.2004.Erin Callan and Chris O'Meara will report directly to CEO Richard Fuld and president and COO Joe Gregory.Lehman said that in the newly created post of global head of financial market policy relations, Antoncic would work with "key sovereign and financial officials. Antoncic, a former economist at the Federal Reserve, joined Lehman in 1999 as head of risk policy. She has been the global head of Risk Management for the past five years. On Tuesday, Lehman reported that its third-quarter profit declined 3%, reflecting weakness in capital markets, specifically in fixed income. The company's profit for the quarter slid to $887 million or $1.54 per share from $916 million or $1.57 per share a year ago. Wall Street analysts expected the company to earn $1.47 per share. Lehman's quarterly revenues were $4.31 billion, up 3% from $4.18 billion in the same period prior year. Analysts polled by Thomson FirstCall had a revenue consensus estimate of $4.30 billion.Commenting on the appointment changes, Chairman and CEO Richard Fuld said, Lehman Brothers' success depends in large part on leveraging our best people's strengths and experiences. Erin, Chris and Madelyn have all played vital roles in creating value for our clients and shareholders. In their new positions, they will have an even greater ability to contribute significantly to the Firm. LEH closed Thursday's regular trade down $1.80 or 2.81% at $62.31 on a volume of 15.25 million shares. In after-hours, the stock shed $0.21 and was at $62.10.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.