Neuberger Berman, the money manager that was part of Lehman Brothers until that firm failed, has more than doubled its assets in East Asia since March 2010 and plans to add staff in the region.
Bloomberg reports that assets from Japanese and South Korean clients grew to $6.2bn as of September from $2.3bn in March 2010, according to Chief Executive Officer George Walker.
The firm currently has about 30 employees in Japan and South Korea and plans to expand that number by more than 10% over the next 12 months, he said.
'We had good success in the Japanese retail business', Walker, 44, said in a telephone interview from the firm’s Tokyo office Thursday.
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Neuberger Berman Boosts Assets in East Asia, Plans More Hiring
Brokers Rise as China Pledges Bigger Market Role: Shanghai Mover