As it was at its founding in 1939, Neuberger Berman is once again 100% employee owned, having purchased the remaining common equity not previously owned by employees.
Effective December 19, and completed ahead of the schedule announced in 2011, the process ends with Neuberger Berman portfolio managers and senior professionals, representing more than 20% of the firm’s more than 2,000 employees, now owning equity in the firm.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
George Walker, Chief Executive Officer, remarked on the benefits the firm has enjoyed since May, 2009 when Neuberger Berman emerged from the Lehman Brothers Estate: "Broad employee ownership more closely aligns us with the interests of our clients than other structures might achieve.
Returning to our roots as a private partnership enables the firm to focus all of our resources and efforts on managing money and providing customized advice for clients, which further strengthens our culture."
Other Neuberger Berman highlights since regaining independence in May 2009 include:
- Stability and Tenure: Since 2009, when the firm was again established as an independent investment manager, it boasts a 97% annualized retention rate of investment professionals at SVP and MD level. This stability has served clients well and resulted in asset growth from $158 billion in May 2009 to the current $247 billion as of September 30, 2014.
- Broad Platform: Since 2009, added experienced investment teams to launch and oversee emerging markets debt; global equity long/short; global credit long/short; multi-asset class solutions; and private debt strategies for clients.
- Global Locations and Client Coverage: In 2009, the firm had offices in 8 countries serving fewer than 70 non-U.S. clients. Today, with offices in 17 countries, 248 non-U.S. professionals serve 482 non-U.S. clients.
"Operating with a stronger financial foundation and true worldwide presence since the employee-led buyout in May 2009, Neuberger Berman has added significantly to our diverse investment platform, resulting in broader and deeper relationships with institutional clients, investment advisers, and consultants globally," said Joseph Amato, Neuberger Berman president and chief investment officer.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe path to 100% employee ownership was approved in December 2011 following an agreement reached between Neuberger Berman’s management, which at that time owned 52% of the firm’s common equity, and the Lehman estate, which held the remaining 48%. The sources of these equity purchases are cash flow from operations and voluntary elections by employees to purchase additional equity.
