Roger Nagioff, the co-head of global equities at Lehman Brothers, is to take on the role of chief operating officer of Lehman Brothers Europe, one of four new appointments to the bank's executive committee.

Nagioff, who joined the bank in 1997, has been co-head of global equities with Robert Shafir since 2000. Shafir will continue as the sole head as Nagioff takes on his new role which includes the daily management of the bank's European businesses and administration. He will report to Jeremy Isaacs, chief executive of Lehman Brothers Europe and Asia.