Lehman names Asia vice-chairman

Lehman Brothers Holdings Inc. has appointed Kunho Cho as its first Asia-based vice chairman, according to published reports. Mr. Cho has been with Lehman Brothers since 1989 and previously led the company's investment-banking division in the Asia-Pacific region and has been involved in major financing transactions in South Korea, China and Japan, according to a Bloomberg report. The New York-based investment bank said the appointment highlighted the growth and importance of its Asian businesses, according to a Dow Jones report. Previously the head of Lehman Brothers' investment banking division in Asia-Pacific, Mr. Cho will be responsible for finding the appropriate partners for Lehman Brothers as he leads the firm's regional efforts in strategic acquisitions. Lehman Brothers named Glenn Schiffman as its global co-head of media investment banking, replacing Mr. Cho as head of investment banking for Asia ex-Japan. He will be based in Hong Kong.