Neuberger Berman is adding substantially all of the assets of Sloate, Weisman, Murray & Company to its portfolio. The New York City-based unit of Lehman Brothers is hiring the key personnel from the high net worth management firm.
Neuberger officials said Laura J. Sloate, co-founder of Sloate Weisman; Donna Leone, formerly COO and Principal; and Adam L. Hershey, Ms. Sloate's co-portfolio manager, have all signed on. Additionally, Sloate was named a Neuberger Berman managing director.
Sloate and Hershey managed approximately $300 million primarily for high net worth individuals as well as institutions at the 21-yaer-old firm.
"Laura Sloate has spent her entire career in the investment business, and her money management skills have been tested and proven throughout the market cycles of the past three decades," said Robert Matza
, president of Neuberger Berman.
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