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.
 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE