Lehman Promotes From Within

Lehman Brothers will add another woman to the top ranks of Wall Street, naming Erin Callan to the position of Chief Financial Officer.

The company said on Thursday that starting in December, Callan will oversee the firm's finance organization, including treasury, tax, and financial control and reporting, and will join the Lehman Brothers' Executive Committee.

Callan will take over from Chris O'Meara, who will become global head of risk management. The current head of risk management, Madelyn Antoncic, will become global head of financial market policy relations.

Since joining Lehman Brothers in 1995, Callan has headed Global Finance Solutions Group and Global Finance Analytics Group, both within Investment Banking, and was named a managing director in June 2000.

She is currently responsible for heading the new Global Hedge Fund Coverage within the Investment Banking Division.

Callan has been a "rising star at Lehman for years," the Financial Times says, and is widely viewed as a potential successor to C.E.O. Richard Fuld.

by Liz Gunnison