Firm will merge money manager with Neuberger Berman.
Lehman Brothers has agreed to acquire H.A. Schupf & Co., a
$2.5 billion money manager based in New York, for an undisclosed sum. Lehman
will merge Schupf & Co. with its wealth management subsidiary, Neuberger
Berman.
Schupf & Co. was founded in 1979 by H. Axel Schupf. As part of
the deal, partners Axel Schupf, Elisabeth Lonsdale and Barbara Tammy will join
investment groups at Lehman Brother’s private asset management division.
Lehman Brothers, a financial services firm headquartered in New
York, has more than $50 billion in high-net-worth assets under management. Its
Neuberger Berman subsidiary is part of Lehman’s asset management business.
—Andrew Farrell
|
