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Neuberger Berman
Neuberger Berman Wiki
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Neuberger Berman, Neuberger Berman Type Subsidiary Founded New York, NY (1939) Headquarters New York City Industry Financial Services Products Investment Management Mutual funds Employees 1,000 (2006) Slogan Investment Management is What We Do Website www.nb.com Neuberger Berman Inc., through its subsidaries, primarily Neuberger Berman, LLC, is an investment advisory firm founded in 1939 by Roy R. Neuberger and Robert Berman, to manage money for high net worth individuals. In the decades that followed, the Firm's growth mirrored that of the asset management industry as a whole. In 1950, it introduced one of the first no-load mutual funds in the United States, the Guardian Fund, and also began to manage the assets of pension plans and other institutions. Historically known for its value investing style, in the 1990's the firm began to diversify its competencies to include additional value and growth investing, across the entire capitalization spectrum, as well as new investment categories, such as international, real estate investment trusts and high yield investments. In addition, with the creation of several state and a nationally chartered trust company, the Firm was able to offer trust and fiduciary services. Today the Firm has approximately $130 billion in assets under management. In October 1999, the firm conducted an initial public offering of its shares and commenced trading on the New York Stock Exchange, under the ticker symbol "NEU". In July 2003, shortly after the retired Mr. Neuberger's 100th birthday, the company announced that it was in merger discussions with Lehman Brothers Holdings Inc. These discussions ultimately resulted in the Firm's acquisition by Lehman Brothers on October 31, 2003, for approximately $2.63 billion in cash and securities. On November 20, 2006, Lehman Brothers announced its Neuberger Berman subsidiary would acquire H.A. Schupf & Co., a money management firm targeted at wealthy individuals. Its $2.5 billion of assets will join Neuberger's $50 billion in high net worth client assets under management.
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[edit] References ^ " Lehman to acquire H.A. Schupf" Reuters, November 20, 2006 ¤ This bank, insurance, or other financial services corporation article is a stub. You can help Wikipedia by expanding it. Retrieved from "http://en.wikipedia.org/wiki/Neuberger_Berman" Categories: Financial services company stubs
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