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Rating:Next Week, Neuberger Will Be Free At Last Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 10, 2014

Next Week, Neuberger Will Be Free At Last

News summary by MFWire's editors

Six years after the fall, Neuberger Berman [profile] is about to be completely free of Lehman Brothers.

Landon Thomas Jr. of the New York Times reports that next week Neuberger CEO George Walker and his fellow Neuberger top brass will send the final, $90-million check to the Lehman estate to complete their split from the fallen investment bank. Over the past five years Neuberger's management have paid $1.5 billion to the Lehman estate. (Neuberger now claims about $247 billion in assets under management, so the $1.5 billion works out to 0.608 percent of AUM.)

Walker talks to the NYTimes about the "dark days" of the financial crisis, when he and his team had to extricate themselves from the collapsing Lehman.

"This firm has been stress tested, and in a way that no other firm has been," Walker tells the paper.

Check out the full article for more Neuberger tidbits and quotes from Walker. 

Edited by: Neil Anderson, Managing Editor

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