Neuberger Investment Management has made a bid to purchase Lehman Trust, the trust business of the former Lehman Brothers, according to the trade publication Private Asset Managment.
Neuberger, formerly the wealth management division of Lehman Brothers, was purchased by a cabal of its managers after Lehman declared bankruptcy. Barclays had intended to pick up the trust business put reportedly objected to the price, according to people familiar with the matter who spoke to PAM.
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