Lehman Brothers restructures business model

It has appointed Simon Hinshelwood as managing director, chief operating officer, and John Prust as director of sales and marketing for its UK businesses.

Both appointments are effective immediately and report to Bill Bilsborough, managing director, chief executive officer of the division.

Mr. Hinshelwood has 20 years’ experience in the financial services industry, and joins after four years at Global Home Loans where he was most recently chief executive officer. In this new position, Mr. Hinshelwood will be responsible for all operational functions of Preferred Mortgages (Preferred), Southern Pacific Mortgage Limited (SPML) and Capstone Mortgage Services (Capstone).

Mr. Prust, formerly director of sales and marketing at SPML, assumes a new role as director of sales and marketing for the U.K. mortgage businesses, overseeing Preferred and SPML.