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Wednesday, September 15, 2010

Neuberger's Top Exec Discusses an IPO Possibility

News summary by MFWire's editors

In June, Neuberger Berman [see profile] president Joe Amato talked about the possibility of Neuberger Berman doing an IPO in the future. Now, its CEO George Walker's turn to talk about such a scenario.

"There's some chance that we'll go public at some point in the future, which, for us, frankly, would also be a fine outcome. The firm has thrived as a private partnership. The firm also thrived as a public company prior to the transaction with Lehman Brothers," Walker told Steve Forbes in a recent interview.

Neuberger Berman is 52 percent employee-owned. The remaining stake is held by the Lehman Brothers estate.

"The estate's timetable to liquidate their positions looks like it's going to be over the course of three to five years," Walker told Forbes. 

Edited by: Armie Margaret Lee

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