NEW YORK, April 7, 2015 /PRNewswire/ -- Neuberger Berman,
one of the world's leading employee-owned investment managers, is
pleased to announce that Steven A.
Kandarian, president, chairman and chief executive officer
of MetLife, Inc. (NYSE: MET) has been elected to Neuberger Berman's
six-member board as an independent director, effective March 27, 2015.
Mr. Kandarian replaces Thomas A.
Knott. The transition marks another milestone for Neuberger
Berman, which in December 2014
purchased all the remaining common equity not previously owned by
employees. Four hundred sixty five of Neuberger Berman's more than
2,100 employees now own equity in the firm.
Mr. Kandarian was named president and CEO of MetLife in
May 2011 and chairman of the board in
January 2012. MetLife is one of the
largest life insurers in the world and a leading provider of
insurance, annuities, employee benefits and asset management to
approximately 100 million customers in nearly 50 countries. From
2005-2011, Mr. Kandarian served as MetLife's chief investment
officer, during which time his oversight of the company's
investment portfolio enabled MetLife to successfully navigate the
global financial crisis and emerge in a strong financial
position.
From 2001-2004, Mr. Kandarian was executive director of the
Pension Benefit Guaranty Corporation, a U.S.-government-owned
corporation that insures private sector defined benefit pension
plans. Previously, Mr. Kandarian had a 20-year career in private
equity and investment banking. Mr. Kandarian earned his B.A. from
Clark University, J.D. from
Georgetown University and M.B.A. from
Harvard Business School.
"Steve is a world class executive and investor," said
George Walker, Neuberger Berman's
chairman and CEO. "He has successfully led MetLife and contributed
substantially to its global expansion. It would be difficult to
construct a more ideal background for a board member to help
oversee our global investment management firm. We are thrilled he
has agreed to join us."
With the unanimous support and nomination of Neuberger Berman's
Partnership Committee, Mr. Kandarian was elected to serve as a
director for a three-year term.
About Neuberger Berman
Neuberger Berman, founded in
1939, is a private, independent, employee-owned investment manager.
The firm manages equities, fixed income, private equity and hedge
fund portfolios for institutions and advisors worldwide. With
offices in 18 countries, Neuberger Berman's team is more than 2,100
professionals and the company was named by Pensions &
Investments as a 2013 and 2014 Best Place to Work in Money
Management. Tenured, stable and long-term in focus, the firm
fosters an investment culture of fundamental research and
independent thinking. It manages $250
billion in client assets as of December 31, 2014. For more information, please
visit our website at www.nb.com.
The "Neuberger Berman" name and logo are registered service
marks of Neuberger Berman Group LLC. "Neuberger Berman Management
LLC" and the individual Fund names in this piece are either service
marks or registered service marks of Neuberger Berman Management
LLC.
© 2015 Neuberger Berman Group LLC. All rights reserved.
Media Contact: Alex Samuelson,
212 476 5392, Alexander.Samuelson@NB.com
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