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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DECEMBER 8, 1999
DATE OF REPORT
NEUBERGER BERMAN INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 333-84525
DELAWARE 06-1523639
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
605 Third Avenue
New York, NY 10158
(212) 476-9000
ITEM 5. OTHER EVENTS
On December 8, 1999, Neuberger Berman Inc. (the "Corporation")
announced the appointment of three outside members to its
board of directors: David W. Glenn, President and COO of
Freddie Mac; Jon Madonna, President and CEO of Carlson
Wagonlit Travel; and Jack H. Nusbaum, Partner and Chairman of
the law firm Willkie Farr & Gallagher. These appointments
increase the size of the board to 11 members. A copy of the
press release issued by the Corporation is attached as Exhibit
99.1 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
( c ) Exhibits
The Exhibits listed on the Exhibit Index on page 2 of this
Form 8-K are filed herewith.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Neuberger Berman Inc.
(Registrant)
Date: December 22, 1999 By: /s/ Peter E. Sundman
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Peter E. Sundman
Executive Vice President
EXHIBIT INDEX
99.1 Press release issued by the Corporation on December 8, 1999, with respect
to the appointment of three outside members to its board of directors
filed herewith.
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Exhibit 99.1
[LETTERHEAD OF NEUBERGER BERMAN]
CONTACT: FOR IMMEDIATE RELEASE
Jeffrey B. Lane
Neuberger Berman Inc.
212-476-5401
Alan Towers Associates, Inc.
212-354-5020
NEUBERGER BERMAN APPOINTS
THREE OUTSIDE DIRECTORS, EXPANDS BOARD
NEW YORK, December 8, 1999 - Neuberger Berman Inc. (NYSE:NEU) today announced
the appointment of three outside members to its board of directors: David W.
Glenn, President and COO of Freddie Mac; Jon Madonna, President and CEO of
Carlson Wagonlit Travel; and Jack H. Nusbaum, Partner and Chairman of the law
firm Willkie Farr & Gallagher. These appointments increase the size of the board
to 11 members.
Jeffrey B. Lane, President and CEO of Neuberger Berman, said, "Neuberger Berman
is privileged to have these seasoned and outstanding executives serving on our
board. Their depth of experience will benefit all Neuberger Berman
shareholders."
NEW DIRECTORS
As President of Freddie Mac, the nation's second largest source of home-loan
funds, Mr. Glenn manages operations in the company's three main businesses -
single-family, investment, and multifamily. During his 12-year tenure at Freddie
Mac, Mr. Glenn has engineered the company's transformation into a publicly held
company, which now
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finances one in five American homes. He is an advisor to the President's Cabinet
Council Task Force on Economic Affairs. He also serves as Chairman, Federal Home
Loan Bank of San Francisco Industry Advisory Committee regarding FSLIC
Management Program.
Prior to his top position at Carlson Wagonlit Travel, an $11 billion company and
a world leader in the business travel and expense management industry, Mr.
Madonna was a Vice Chairman of The Travelers Group and Vice Chairman of
Travelers Property and Casualty. Previously, he was Chairman of KPMG
International and Chairman and CEO of KPMG Peat Marwick, USA. Mr. Madonna is
currently a director of Tidewater Inc.
Mr. Nusbaum has been a partner of Willkie Farr & Gallagher for 29 years, serving
as Chairman for the past 11 years. His areas of concentration include Mergers
and Acquisitions, Corporate Governance and Fiduciary Duties, and Internal
Investigations. Mr. Nusbaum is a director of W.R. Berkley Corporation, Pioneer
Companies, Prime Hospitality Corp., Strategic Distribution and The Topps
Company.
INTERNAL DIRECTORS
Also serving on the Neuberger Berman Board are the following current or former
Neuberger Berman employees:
o Lawrence Zicklin, non-executive Chairman.
o Richard A. Cantor, non-executive Vice Chairman.
o Marvin C. Schwartz, Vice-Chairman.
o Jeffery B Lane, President and CEO of Neuberger Berman; Michael M. Kassen,
Robert Matza, Heidi L. Schneider, and Peter E. Sundman, all Executive Vice
Presidents of Neuberger Berman.
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Neuberger Berman has more than $50 billion in assets under management for
institutions, individuals and its family of no-load mutual funds. Headquartered
in New York, Neuberger Berman or its affiliates have offices in Atlanta, Boston,
Chicago, Columbia, Dallas, Los Angeles, Miami, San Francisco, West Palm Beach
and Wilmington. The firm has over 1,100 employees. Neuberger Berman's Web site
can be viewed at WWW.NB.COM.
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