Caruso leaves Lehman

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Jolyne Caruso is leaving her position as global head of absolute return strategies at Lehman Brothers.

The move, which Lehman confirmed earlier this week, comes as the firm reorganizes its $6.5 billion hedge fund business ahead of the arrival of George Walker, a former Goldman Sachs executive who will take over as head of Lehman’s asset management division next month.

Caruso, a former president and founding member of Andor Capital Management, joined Lehman in March 2005 with the task of building the firm’s absolute return business, which was set up as its own division shortly before Caruso arrived. On Caruso’s