Gowers, who left the FT in November, has been handed the new post of head of corporate communications, advertising and brand & marketing strategy for Europe. He joins at the beginning of June.
The position mirrors that of New York global head of strategy and Scott Freidheim, to whom Gowers will report. Gowers will also report to London European executive committee member John Phizackerley.
It also leapfrogs Lehman Brothers' head of corporate comms Christine Chinnery, who until now has been the bank's most senior PRO in Europe.
A Lehman Brothers spokeswoman said Gowers' role had been created because of the group's expansion in Europe and Asia.
Over the last five years Lehman Brothers has doubled its European headcount to 4,700 and this week reported a 24 per cent hike in first quarter earnings to $1.1bn, thanks in no small part to its activities in the continent.
Globally, Lehman Brothers has advised on the second highest total volume of deals this year. It is advising on the proposed £24.7 billion merger of French utilities Gaz de France with Suez.
Gowers was editor of the FT for four years, having started his journalism career at Reuters in 1980 before joining the FT in 1983. He has also been the FT's features editor, foreign editor and as established FT Deutschland in Germany.