Lehman Brothers Asset Management has hired away two members of Lord Abbett's municipal bond team, The MFWire has learned. Steve Leone and Lisa D'Emic left Lord Abbett in mid-July.

A Lehman spokesperson confirmed their hiring. A spokesperson for Lord Abbett declined to comment.

D'Emic and Leone were portfolio managers for Lord Abbett's SMA municipal bond portfolios. Sources close to Lord Abbett said the firm has yet to tap replacements for the two.

At Lehman, D'Emic and Leone take the title of senior vice president, responsible for manging municipal fixed-income portfolios.  

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