Neuberger Berman Hires Money Manager For Private Asset Management Group

    NEW YORK, Jan. 9 /PRNewswire-FirstCall/ -- Neuberger Berman (NYSE:   NEU)
 announced today that Steven C. Guggenheimer joined Neuberger Berman, LLC as a
 Managing Director.
     Mr. Guggenheimer advises assets for high net worth individuals and small
 to mid-sized institutions.  Most recently, he was employed by Merrill Lynch as
 a Financial Advisor and First Vice President of Investments.
      "We are very pleased about Steven Guggenheimer joining Neuberger Berman,"
 said Heidi L. Schneider, Executive Vice President of Neuberger Berman and head
 of the Private Asset Management Group.  "Steven's experience with private
 clients and his focus on long-term relationships complement Neuberger Berman's
 commitment to outstanding customer service and investment excellence."
      "Neuberger Berman is a well-known, well-respected money management firm
 with the talent and resources essential to managing clients' assets," said Mr.
 Guggenheimer.  "I'm very excited to be here."
 
      Neuberger Berman Inc. through its subsidiaries is an investment advisory
 company with $52.1 billion in assets under management, as of September 30,
 2001.  For more than 60 years, the firm has provided clients with a broad
 range of investment products, services and strategies.  Neuberger Berman Inc.
 engages in private asset management, wealth management services, tax planning
 and personal and institutional trust services, mutual funds and institutional
 management, and professional securities services for individuals,
 institutions, corporations, pension funds, foundations and endowments.  Its
 website, and this news release, can be accessed at http://www.nb.com.  The
 firm is headquartered in New York with offices in major cities throughout the
 United States.
 
      Statements made in this release that look forward in time involve risks
 and uncertainties and are forward-looking statements within the meaning of the
 Private Securities Litigation Reform Act of 1995. Such risks and uncertainties
 include, without limitation, the adverse effect from a decline in the
 securities markets or a decline in the Company's products' performance, a
 general downturn in the economy, competition from other companies, changes in
 government policy or regulation, inability of the Company to attract or retain
 key employees, inability of the Company to implement its operating strategy
 and acquisition strategy, inability of the Company to manage rapid expansion
 and unforeseen costs and other effects related to legal proceedings or
 investigations of governmental and self-regulatory organizations.
 
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SOURCE Neuberger Berman

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