Lehman Brothers is one of several US banks moving control of its key divisions to the UK.

Lehman Brothers has announced the new global head of its fixed income division will be based in London, according to the Financial Times (FT) newspaper.

The decision highlights the New York-based bank’s commitment to growing in the UK, Europe and Asia.

Roger Nagioff, currently chief operating officer in Europe, will be the first Lehman Brothers executive to serve as sole global head of the one of the bank’s operating divisions from outside the US.

"The move comes as other New York-based banks also move senior executives to London, reflecting the faster pace of capital markets growth in Europe and Asia."

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