Luis de Guindos, Spain's former secretary of state for economic affairs, is to join as the fifth member of Lehman Brothers' European Advisory Council, led by UK peer, Lord Tugendhat.

De Guindos was secretary of state for economic affairs for two years until the recent change of government in Spain. He has held other senior posts in the EU's economic policy committee, the OECD's economic policy committee and the ECOFIN Council. He was chief executive of AB Asesores, a securities house now owned by Morgan Stanley, from 1988 to 1996.