The move will see Lehman poach one of the region's foremost and most experienced bankers from his current position as co-head of Russian investment at Deustche Bank.
It is thought that Mr Jordan's Kremlin connections made him especially attractive to Lehman in an economy that is increasingly state-run.
The US bank had pulled out of the fast-growing Russian market in the wake of the economic meltdown in 1998 which lead to huge losses for a series of US banks.
Lehman's return comes at a time when Morgan Stanley and Merrill Lynch are expanding their presence in the area as the market undergoes a revival, which has been driven chiefly through petro-cash.
Commenting on the influx of western banks, Roland Nash of Russian investment bank Renaissance Capital said: "To call yourself a global investment bank, you have to be in Russia.
"The financial revolution taking place in Russia is extremely attractive for western investment banks," he added.