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Lehman Brothers announces global head of Sovereign Wealth Funds

Lehman Brothers, the global investment bank, today announced the appointment of Makram Azar to the newly-created role of global head of Sovereign Wealth Funds, further demonstrating the Firm's commitment to serving the important and growing needs of state-owned investment institutions around the world.

In this cross-divisional role based in Dubai, Mr. Azar will report to Jeremy Isaacs, chief executive officer for Europe, Middle East and Asia-Pacific, Steve Lessing, global head of Senior Relationship Management and Jasjit Bhattal, chief executive officer for Asia-Pacific.

Mr. Isaacs commented:

“Sovereign Wealth Funds have become an increasingly important force in today’s international markets, and I am excited about the opportunity this appointment creates for us to further develop our relationships with these clients. Makram brings a wealth of experience to this role including strategic advisory strength and a great record of building relationships and executing transactions for our clients.”

Mr. Azar joined Lehman Brothers in 1990 and had most recently been leading the Media, Consumer & Retail investment banking businesses in Europe & the Middle East. Under his leadership, Lehman Brothers was named Media M&A Bank of the Year 2007 by MediaFinance magazine for having advised on most of the significant 2007 transactions in the media sector, including the takeover of ProSiebenSat.1 by KKR and Permira, the merger of Canal+ and TPS, and the sale of Endemol. In recognition of Mr. Azar’s strong knowledge of and relationships in the media industry he is also being named chairman of Media Investment Banking for Europe and Middle East.