MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, September 17, 2008 The Crowds Are Restless at Neuberger Berman A Dow Jones article on Tuesday afternoon offers a window into the experience of employees at Lehman Brothers' investment management unit, which includes Neuberger Berman. A very unhappy employee, who was not identified in the article, shared the contents of a recent memo and voiced frustration with Lehman's top honchos for not keeping employees in the loop. "I am furious at the absolute lack of communication from top management," the employee told Dow Jones' Arden Dale. "Some people here have been very good at giving directions to the troops. From corporate itself, there has been absolute radio silence." The same employee told Dow Jones that some managers inside the unit, in an effort to protect clients, have been moving client assets to other firms, including some custodial banks. On Tuesday, Neuberger Berman posted an announcement on its Web site that it is operating as usual and is not part of the bankruptcy proceedings of Lehman Brothers Holdings. Printed from: MFWire.com/story.asp?s=19341 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |