These are my assessments as I am no manager but based on when and why I felt comfortable with my lead. Here are some nine tips :
1. He should be some one with good communication skills, a good listener and sincere
to his work.
2. He should not be in the same grade level as you are.
3. He should be atleast two grades higher or 3 years senior if possible.
4. If a team constitutes of similar grade level developers, then make them individual
contributors and component leads. The project manager (or an architect) should take the
responsibility of being the team lead.
5. He should have some hands-on exposure to the related technology you are
implementing your solution in.
6. The job of a lead should never be collecting status and maintaing spreadsheets. He
will soon lose the respect of the team members.
7. One who could bring some real value.
8. One who is a good mediator and arbiter.
9. One who could become a manager anytime but is not interested in it.