Jeremy Isaacs, the former European head of Lehman Brothers, is stepping down as chairman of Marex Spectron after five years, while ex-UBS banker John Wall retires as CEO, as the commodities broker implements a succession plan at the top.

Marex Spectron was formed after JRJ Group, a private equity firm set up by Isaacs along with Lehman's former fixed income chief Roger Nagioff, together with Trilantic Capital and BXR Group, acquired commodity and futures broker Marex Group in 2010, before Marex in turn acquired Spectron Group in March 2011.