Neuberger Berman to acquire Lehman trust companies
Neuberger Berman Group LLC today announced that it has agreed to acquire the businesses of Lehman Brothers Trust Company, N.A. and Lehman Brothers Trust Company of Delaware.
Neuberger Berman Group LLC today announced that it has agreed to acquire the businesses of Lehman Brothers Trust Company, N.A. and Lehman Brothers Trust Company of Delaware.
When the transactions close, Neuberger Berman’s wealth management services will once again include a wholly owned trust business.
As part of Neuberger Berman, Lehman will continue to provide trust, estate and investment services to individuals and institutions.
Robert J. Laughlin, the current president of the Lehman Brothers Trust Company, will lead the Neuberger Berman Trust.
In September of 2008, Lehman Brothers Holdings Inc. declared bankruptcy.
In May, Neuberger Berman spun themselves out from their former owner, Lehman Brothers Holdings Inc., forming one of the largest independently owned money managers in the industry.
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