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, the company said on Tuesday.

A rising star at Lehman, Ms Callan was removed as chief financial officer after just a few months following the bank’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.