Erin Callan, who was recently ousted from her position as Lehman Brothers’ chief financial officer, will begin a new role as head of Credit Suisse’s

global hedge fund business on Sept. 2.

Callan will also join Credit Suisse’s investment bank management and global client steering committees.

She spent 13 years at Lehman. Prior to starting as Lehman’s CFO on Dec. 1, Callan was also head of the global hedge fund coverage division. In her new position, she will work in Credit Suisse’s New York office and closely collaborate with the prime services, financial institutions and global markets solutions groups.

“I’m excited to be joining Credit Suisse and look forward to working with their talented people,” Callan said. “This gives me the opportunity to return to my roots covering the hedge fund community, which is playing such a critical role on the Street.”

A Credit Suisse spokesman told IDD that Callan was not available for media interviews.

“Erin will help us take full advantage of this key market segment as we move to rapidly extend our gains with hedge funds, building on our strong position with this high-opportunity client group,” said Rob Shafir, chief executive of Credit Suisse Asset Management and CEO of the firm's Americas regional operations. Shafir came aboard Credit Suisse in August 2007 after spending 17 years at Lehman, most recently as head of equities.

On June 12, Lehman announced Callan would be replaced as CFO by Ian Lowitt, most recently co-chief administrative officer, and would rejoin the firm's investment banking division in a senior capacity.

Before joining Lehman in 1995, Callan worked at Simpson, Thacher & Bartlett. She became the first woman to serve on Lehman's executive committee.

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