8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

October 23, 2006

Lehman Brothers Holdings Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

1-9466	13-3216325
(Commission File Number)	(IRS Employer Identification No.)

745 Seventh Avenue
New York, New York	10019
(Address of Principal Executive Offices)	(Zip Code)

(212) 526-7000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

On October 23, 2006, Lehman Brothers Holdings Inc. (the “Registrant”) issued a press release with respect to senior management appointments (the “Press Release”).

The Press Release is filed as Exhibit 99.1 hereto and is hereby incorporated by reference.

Item 9.01Financial Statements and Exhibits

(d)       Exhibits.

99.1     Press Release of the Registrant, dated October 23, 2006

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		LEHMAN BROTHERS HOLDINGS INC.
Date:     October 23, 2006	By:	James J. Killerlane III
		James J. Killerlane III Vice President Assistant Secretary

EXHIBIT INDEX

Exhibit 99.1 Press Release of the Registrant, dated October 23, 2006

EX-99.1

For Immediate Release Media Contact: Hannah Burns
212-526-4064

LEHMAN BROTHERS ANNOUNCES SENIOR APPOINTMENTS:

Dave Goldfarb Named Global Head of

Strategic Partnerships, Principal Investing and Risk;

Scott J. Freidheim and Ian T. Lowitt Named

Co-Chief Administrative Officers

NEW YORK - October 23, 2006 — Lehman Brothers, the global investment bank, today announced that Dave Goldfarb, Chief Administrative Officer, has been appointed global head of Strategic Partnerships, Principal Investing and Risk, a newly created Executive Committee position. Concurrently, the Firm announced the appointment of Scott J. Freidheim and Ian T. Lowitt as Co-Chief Administrative Officers.

Commenting on the appointments, Chairman and Chief Executive Officer Richard S. Fuld, Jr. said, “For over a decade, we have achieved sustained growth by delivering the full resources of the Firm to our clients worldwide. We are now positioned to accelerate this growth through acquisitions, joint ventures and principal opportunities. Dave’s experience and responsibilities at the Firm make him ideally suited for this new role and will also enable us to maintain the very best risk management practices. I am equally thrilled that Scott and Ian will be managing the Firm’s corporate functions, a critical responsibility as the organization continues to grow.”

In his new role, Mr. Goldfarb will be responsible for leveraging the Firm’s global relationships and will oversee all of the Firm’s principal investments, mergers and acquisitions and strategic joint ventures, risk management and capital deployment. He will also oversee Global Trading Strategies and Global Principal Strategies.

Mr. Freidheim and Mr. Lowitt will split the role of Chief Administrative Officer. Mr. Freidheim will continue to serve as global head of Strategy, Corporate Communications and Brand Strategy, and will now assume global oversight of Business Development Services, the Corporate Advisory Division, Human Resources, including Diversity, Recruiting and Talent Management, and Security. He will remain in his role as Chief of Staff in the Office of the Chairman and CEO. Mr. Lowitt, previously Chief Administrative Officer for Europe, will be responsible for the global oversight of Corporate Real Estate, Finance, Investor Relations, Operations, Productivity and Process Improvement and Technology. Both Mr. Freidheim and Mr. Lowitt will join the Firm’s Management Committee.

Mr. Goldfarb joined Lehman Brothers in 1993. He became Chief Financial Officer in 2000. In 2004 he was appointed Chief Administrative Officer. He is a member of the Firm’s Executive Committee.

Mr. Freidheim joined Lehman Brothers in 1991. In 1996, he was appointed Chief of Staff to the Chairman and CEO. Mr. Freidheim was made global head of Corporate Communications, Advertising, Marketing and Brand Strategy in 2003. In 2005, he was named global head of Strategy.

Mr. Lowitt joined Lehman Brothers in 1994 as head of Corporate Development. He was appointed Treasurer and global head of Tax in 2000. In 2005, he was named Chief Administrative Officer for Europe.

Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research,

investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products and recruitment opportunities, visit the Firm’s Web site at www.lehman.com.

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