Lehman's CIO Leaves In Midst of Reorg

Kevin J. McGilloway, chief information officer of Lehman Brothers, and a leading CIO on Wall Street, is leaving the global investment bank after seven years to pursue other information technology and Internet opportunities, the firm said.

In a series of changes related to its operations and technology organization, Mark Rufeh, formerly head of operations was promoted to head the firm's global Operations, Technology and Corporate Services activities. Jonathan Beyman was appointed CIO, replacing McGilloway, while Daniel Minerva was named global head of the operations group.

Beyman served as head of global operations since 1999, after rejoining Lehman from Cendant, where he served as CIO of the national real estate and consumer services company, and then as chief operating officer of its Internet-based business. Prior to that, Beyman was with Lehman for eight years working in technology and operations. As CIO, he reports to Rufeh who will oversee more than 2,500 employees. Minerva joined Lehman in 1998 and has served as Treasurer and headed up Strategic Client Services.

According to the firm, the changes are being made to support the firms' significant global expansion plans as a result of the firm's growth strategy. Lehman is reportedly building a back- office trade processing system to support its expanding equity business, and plans to migrate off the Bear Stearns' system. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio