stment bank Lehman Brothers has rebranded its Australian business and appointed a new chief executive.
Local operations Grange Securities and Grange Asset Management have been renamed Lehman Brothers Australia and Lehman Brothers Asset management, respectively.
Jim Ballentine will replace Glenn Willis as chief executive of the renamed business in 2008.
Ballentine was formerly with Lehman Brothers in the United States as head of risk strategy for the fixed income division.
"He is a very senior credential Lehman resource," company spokeswoman Sinead Taylor said.
"He will be introduced to the business to provide connectivity to the Australian business and the global business."
Taylor said that Lehman Brothers Australia will continue to expand upon its investment banking, asset management, equities and fixed income operations.
Lehman acquired Grange Securities in March this year and has since tripled the number of staff from 40 to 120.