Lehman creates new role to woo SWFs

Lehman Brothers, an investment bank, has appointed Makram Azar, formerly the head of its media, consumer and retail investment banking businesses in Europe and the Middle East, to the new position of global head of sovereign wealth funds.

Azar, who will also work as chairman of Media Investment Banking for Europe and the Middle East, will be based in Dubai.

Jeremy Isaacs, the chief executive for Europe, the Middle East and Asia-Pacific, said: "Sovereign wealth funds have become an increasingl