One of Lehman Brothers top metals and mining industry bankers has been promoted just over a month after working on Chinalco’s $14.1bn (€9.5bn) dawn raid on Rio Tinto shares, which gave the Chinese company a 12% stake in the UK-listed miner.

Shaun Treacy, previously a managing director covering natural resources in Australia, has been made global head of metals and mining coverage, and is relocating to the US bank’s London office