Lehman Brothers, the global investment bank, announced that Roger Nagioff has been named global head of the firm’s fixed-income division, to be based in London.

Naigoff succeeds Michael Gelband who has decided to leave the firm to pursue other interests. In addition, the firm said that Benoit Savoret will assume the role of chief operating officer of Europe.

“Roger’s appointment underscores the truly global nature of our businesses as this is the first time a sole global head of one of the firm’s divisions will be located outside the U.S.,” said chairman and CEO Richard Fuld, Jr. “I am confident that Roger’s track record of success, which includes helping to integrate all of our businesses in a way that embodies our One Firm culture, will further strengthen our leadership position in fixed income.”

Nagioff joined Lehman Brothers in 1997 to head up the firm’s European equity trading efforts. Two years later he was named head of the European Equities Division. In 2000, he became co-head of Global Equities and, subsequently, was named chief operating officer for Europe in January 2004. He is a member of the firm’s executive committee.

Savoret joined Lehman in 1997 as a senior equity derivatives trader covering France and Italy. He was named head of Asia Equities in 2000, head of European Equity Trading and Equity Derivatives in 2002, co-head of European Equities in 2004 and sole head of European Equities in 2006. Prior to joining the firm, he worked for Societe Generale in the U.S., U.K. and Asia. Savoret graduated as a civil engineer from Ecole Centrale Paris.

“During Benoit’s tenure as head of European Equities, the division has achieved tremendous success. His management and leadership capabilities will be invaluable to the firm as we continue to drive our strong momentum in Europe,” Fuld added.