NEUBERGER BERMAN HIRES SHANNON SACCOCIA AS CHIEF INVESTMENT OFFICER FOR NB PRIVATE WEALTH

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May 09, 2023, 09:00 ET

HIRE CONTINUES GROWTH AS NB PRIVATE WEALTH EVOLVES
TO SERVE ALL GENERATIONS OF INVESTORS

NEW YORK, May 9, 2023 /PRNewswire/ -- Neuberger Berman, a private, independent, employee-owned investment manager, announced that Shannon Saccocia joined on May 8, 2023, in a new role as Chief Investment Officer, NB Private Wealth ("NBPW"). NBPW continues to evolve and strengthen to best serve current clients and appeal to future generations.

Ms. Saccocia is an established investment professional and thought leader within the private client community and wealth management industry. In her new role, she will work closely with investment leadership across Neuberger Berman to establish market views, asset allocation and portfolio recommendations tailored specifically for NBPW clients. Partnering closely with the division's private wealth teams, she will be responsible for further building and leading the NBPW investment platform enabling comprehensive delivery of the firm's investment capabilities.

"We are delighted to have Shannon join our team. She brings highly relevant experience as we continue to invest in our Private Wealth franchise and enhance our capabilities," said Stephanie Luedke, CFA, Head of NB Private Wealth. "This business is about continuity and Neuberger Berman has been a leader in wealth management for almost 100 years. However, we know the world changes, families change, and investment opportunities and planning techniques change, and that we must evolve and transform our wealth management practice to align with modern challenges and meet the complexity that comes with serving the next generation and beyond."

Ms. Saccocia has more than 20 years of experience in the investment management industry, including the last 10 years where she served in senior investment leadership roles primarily with Boston Private Wealth. Most recently, Shannon was the Chief Investment Officer for SVB Private (which acquired Boston Private Wealth in July 2021). In this capacity, she oversaw all investment management functions, including portfolio construction, asset allocation, third-party manager selection, equity and fixed income portfolio management, performance and trading (~$16 billion AUM RIA). Previously, she had senior roles at Banyan Partners and Silver Bridge Advisors focused on manager selection and portfolio construction. Shannon has a BA in Economics and History from Brandeis University and holds the CFA and CIMA designations.

"There is a tremendous opportunity to leverage the vast capabilities of Neuberger Berman on behalf of private clients," said Shannon Saccocia. "The investment platform and experience of our investment teams make NBPW uniquely positioned to offer institutional-quality investment solutions across public and private markets to private clients."

Neuberger Berman manages $436 billion in client assets with NBPW overseeing $66 billion in ultra-high- and high-net-worth individuals and families, and their affiliated organizations. With offices in 11 cities, and 45 advisory teams, NBPW is committed to wealth management and diversifying its client-facing teams to deliver innovative, institutional-quality investment solutions across public and private markets, as well as estate and wealth planning services.

As part of the NBPW growth initiative, the firm has, in the last two years, appointed several veteran wealth management executives including:

Sam Petrucci is the Head of Advice, Planning & Fiduciary Services at NBPW, based in New York, joining in 2021. The group is comprised of in-house tax, trust and estate attorneys, certified financial planners, certified public accountants and fiduciary specialists. Together, they advise clients in areas including estate and tax planning, insurance planning, philanthropy and wealth education, and attend to the estate and trust administration needs of wealthy families through Neuberger Berman Trust Company N.A. Sam previously spent 5 years at Deutsche Bank, where he was Global Head of Wealth Planning and Chairman of the Trust Company. Prior to that, he spent 17 years at Credit Suisse as Head of the Wealth Planning Group, which he co-founded. He holds a B.A. from the University of Pittsburgh, J.D. from Widener University School of Law and LL.M in Taxation from Villanova University School of Law.

Julia Chu joined in 2022 as the Head of Philanthropy and Family Governance Advisory, NBPW. She is a recognized thought leader on trusts and estates, providing advice to clients on strategic, charitable giving plans and family governance, developing client-centric solutions. She joined Neuberger Berman from J.P. Morgan Private Bank, where she was most recently the Co-Head of its global Philanthropy Centre and Head of the Family Governance Advisory Practice. Earlier, she served as Head of Philanthropy and Director at Credit Suisse, where she created a national philanthropy service platform for advisors and clients, and advised on charitable planning, non-profit taxation and program strategy. Chu has held similar roles at UBS Financial Services. She holds a J.D. from Boston University School of Law and an LL.M in Taxation from New York University School of Law.

Gregory Khost joined the firm in 2021 as Head of Business Development, NBPW. With 30 years of experience in financial services, Khost was the Head of Business Development – Americas for Deutsche Bank's private bank. Earlier, he served as a market sales executive for US Trust and a private client representative at Lehman Brothers. He is a graduate of the University of North Carolina at Chapel Hill and holds the Certified Investment Manager Analyst (CIMA) designation.

About Neuberger Berman Private Wealth

Neuberger Berman was founded in 1939 to help individuals achieve their investment objectives. Today, we continue that mission at Neuberger Berman Private Wealth, where we are solely dedicated to serving individuals, families, and their affiliated organizations by providing them with comprehensive wealth and investment management solutions that enable their unique financial journeys and purpose. To learn more about how we can partner with you, visit our website at www.nbprivatewealth.com.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 26 countries, Neuberger Berman's diverse team has over 2,700 professionals. For nine consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Neuberger Berman is a PRI Leader, a designation, since last assessed, that was awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. In the 2021 PRI Assessment, the firm obtained the highest possible scoring for its overarching approach to ESG investment and stewardship, and integration across asset classes. The firm manages $436 billion in client assets as of March 31, 2023. For more information, please visit our website at www.nb.com.

Media Contact:

Alex Samuelson, 212 476 5392, [email protected]

SOURCE Neuberger Berman