As Markets Shook Last Year, This NYC Asset Manager Grew
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Wednesday, February 13, 2019

As Markets Shook Last Year, This NYC Asset Manager Grew

Though most asset managers took AUM hits last year thanks to shaking markets, a big Gotham mutual fund firm grew by both headcount and AUM. And the plan is to keep adding to the team this year, too.

Neuberger Berman [profile] CEO George Walker and his team are looking to add to their team around the world in 2019 by hiring investment professionals specializing in things like global equities, infrastructure, private debt, and real estate, chief of staff Heather Zuckerman tells Bloomberg.

"We're hiring for our growth areas, and we're not going to cut in areas just because it's been a tough market," Zuckerman reportedly said. "That's exactly when we think those businesses need more resources."

New York City-based Neuberger, which turns 80 this year and is employee-owned, now has more than 2,000 employees, including more than 500 investment professionals. The firm's AUM rose about three percent last year to $304 billion on December 31, 2018, and headcount rose six percent. Neuberger's bonus pool also climbed in 2018.

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