Erin Callan, former Lehman Brothers chief financial officer, has been hired by Credit Suisse to fill the new position of global head of its hedge fund business.

Ms Callan was removed as chief financial officer at Lehman after just a few months following the bankâ??s embarrassing $2.8bn second quarter loss and questions about its strategy of engaging with David Einhorn, a prominent hedge fund manager and Lehman critic.