Company Press Release

NEW YORK--(BUSINESS WIRE)--Neuberger Berman, one of the world’s leading employee-controlled money managers, said William A. Arnold has been named Chief Financial Officer, effective in early March. Mr. Arnold, who has 24 years of corporate finance experience in asset management and financial services, comes to Neuberger Berman from Citigroup, where he held senior roles, including serving as CFO of that company’s global asset management and alternative investment businesses. Arnold, 46, was previously with Citigroup, most recently in the role of head of corporate finance. Before that, he spent four years as CFO of Citi Alternative Investments and earlier served as CFO for the global investment management division, including Citigroup Asset Management.

At Neuberger Berman, Mr. Arnold, 46, will report to George Walker, chairman and chief executive officer. During the firm’s transition to independence, the finance function had been overseen by Andrew Komaroff, chief operating officer.

"I am thrilled to have a finance executive of Bill’s caliber aboard to lead this important area for our independent firm,” said Mr. Walker. “We have an exceptionally strong team in place as we build on our 70-year legacy of delivering superior long-term performance for clients."

"Bill Arnold represents the right blend of experience and vision for this role," said Mr. Komaroff. "He has a solid track record of adding value in the asset management arena, having served as CFO for many of Citigroup’s asset management businesses during the past decade."

"Neuberger Berman has a wonderful history and is poised for great opportunities as an independent firm," Mr. Arnold said. "I am excited to join an organization set apart by its investment talent and dedication to achieving clients' unique investment objectives."

At Citigroup, Mr. Arnold was most recently Head of Corporate Finance, managing companywide capital and liquidity planning activities. Before assuming that role in 2009, he spent four years as CFO of Citi Alternative Investments, which had more than $50 billion of capital under management. Prior to that, he was CFO for Global Investment Management, which included Citigroup Asset Management with $460 billion in assets under management, and Travelers Life and Annuity. He assisted in the divestiture of those businesses in 2005.

Mr. Arnold joined Travelers Insurance in 1986 and held a variety of increasingly responsible finance roles, leading to his appointment as CFO of Citigroup Asset Management in 2000.

About Neuberger Berman

Established in 1939, Neuberger Berman is one of the world’s largest private, independent employee-controlled asset management companies, managing approximately $173 billion in assets as of December 31, 2009. Neuberger Berman is a leader in providing a broad range of global investment solutions to institutions and individuals through customized separately managed accounts, mutual funds and alternative investment products. For more information please visit our website at www.nb.com.