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About Neuberger Berman Group

Still going strong

After earning his wealth in the Depression era as a stockbroker, Roy Rothschild Neuberger, who recently celebrated his 106th birthday, created his own financial firm in 1939 with Robert Berman and Howard Lipman.  In its early days, the firm was known as Neuberger & Berman and focused on managing funds for wealthy individual investors, a practice it continues to this day.
In 1950, the firm opened one of the first no-load mutual funds, christened the Guardian Mutual Fund.  Roy Neuberger took a hands-on approach to the fund, running it himself until 1978.  Neuberger also extended his supervision to his everyday care of the firm, finally deciding to cede control of the day-to-day matters of the company to an executive committee in 1968.

After nearly going public in 1998, the firm finally made its initial public offering in October 1999.  The IPO included 15 percent of its shares, priced at $32 each.  Shortly after the IPO, the company instituted a stock buyback plan after its shares fell.  At this time, the firm adopted its current moniker, cutting out the ampersand and developing into the simpler Neuberger Berman.

Neuberger Berman’s days as an independent firm came to an end in 2003 when it was acquired by Lehman Brothers for a reported $3 billion.  But after Lehman filed for bankruptcy in September 2008, Neuberger Berman was sold for $2.15 billion to private equity buyers, a price tag that hit several billion dollars below what industry watchers assumed the unit would fetch.

What they do

Headquartered in New York City and currently established as a presence in eight countries, Neuberger Berman boasts a total of 1,600 employees in 19 offices.  The company caters to both individuals and institutions, focusing on offering wealth planning services for the former and customized investment plans for the latter.   The firm operates through three main units: wealth management services, mutual funds, and institutional and professional securities services.  Its main business lines include private asset management, Neuberger Berman Trust Companies, executive money management, Neuberger Berman Mutual Funds, advisory services, institutional separate accounts, broker advised products, investor clearing services, research and sales.  As of June 30, 2009, Neuberger Berman had $158 billion in assets under management.

Neuberger Berman Group

605 Third Avenue
36th Floor
New York, NY 10158
Phone: (800) 223-6448

Firm Stats

Employer Type: Private
CEO: George Herbert Walker IV
2009 Employees (All Locations): 1,600