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Wednesday, October 26, 2011

Fred Stein Dies

News summary by MFWire's editors

Former Neuberger Berman [see profile] senior portfolio manager Fred Stein died Monday in his New York City home at the age of 84, Bloomberg reports.

Stein retired from Neuberger Berman as senior portfolio manager and managing director in 2003 after spending 32 years with the company.

Stein managed money for private clients, according to a company spokesperson. He did not manage mutual funds.

Before joining the finance world, Stein was with the U.S. merchant marine for nine years and the Army for two years. His career in finance began at a firm in California, then he went on to become senior partner and director of research at Oppenheimer & Co. and CEO of Standard & Poor's/InternCapital Inc.

Money manager Paul Ross described Stein to Bloomberg as a "legend in the business," noting his understanding of equity markets. 

Edited by: Armie Margaret Lee

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