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Week of January 9

The private equity unit of bankrupt Lehman Brothers, Lehman Brothers Merchant Banking, plans to spin out as an independent firm. Click here to read the full story.

Wells Fargo & Co. has named former Wachovia Corp. executives, Robert A. Engel and Jonathan G. Weiss, to run its investment banking and capital markets businesses. Mike Johnson will now head the bank's corporate banking division, and John Shrewsberry will manage the securities investment group.

TD Ameritrade Holding Corp. will acquire online brokerage Thinkorswim for $606 million in cash and stock. The agreement is expected to close in six months.

John Dugan, Comptroller of the Currency, has been asked to leave his position by the incoming Obama administration. At this point Dugan does not intend to comply with the request, saying he wants to stay until the end of his term in August 2010.

John Sorice has joined RBC Capital Markets as a managing director in the firm's U.S. financial sponsors group, reporting to Joe Jabes and Dave Daniels. Sorice most recently served as a managing director in the financial sponsors group at JPMorgan.

Michael A. Leichman has joined Morgan Keegan & Company as a financial advisor and senior vice president in the firm's Albany, New York office. Leichman most recently served as a financial advisor for Janney Montgomery Scott and oversaw 700 million dollars of clients' assets.

William Stockum has joined Southwest Securities Inc. from Morgan Stanley, where he oversaw $65 million in client assets. He has been in the financial services industry for 22 years.

New York Life Investments has hired John C. Siciliano as a senior managing director and head of its investment boutiques. Siciliano most recently served as a managing partner at Grail Partners LLC.

NEPC, LLC has made several staff promotions effective January 1. John S. Shanklin, CFA, was promoted to senior consultant, Ashwini P. Apte, Kristen E. Colvin, Michael P. Sullivan and Michael J. Valchine were promoted to consultants, and Lynda K. Dennen and Jeff T. Markarian were promoted to research consultants.

Russell Johnston, president of AIG Risk Management, has been promoted to president and chief executive officer of AIG Environmental, a unit of AIG Commercial Insurance, succeeding Joseph Boren, who has left the company. And Kimberly Hanna, senior vice president and chief underwriting officer at AIG Environmental, was named executive vice president and chief operating officer, reporting to Johnston.