Lehman Brothers has set up a global insurance capital markets team to take advantage of the growing use of securitisation and other fundraising techniques by insurance companies, and has appointed John Dziadzio to run it.

The development will see Dziadzio return to New York to take up the new role after spending seven years in London, most recently as head of European structured finance origination. He will be replaced in that role by Silvio Angius, whose responsibilities have been expanded from southern Europe to all European structured finance origination.