Neuberger Berman hires Plewniak, Coules from Lipper

New York, April 22 - Neuberger Berman Inc. said it reached an agreement with Lipper & Co. under which it will hire Lipper's high-yield bond team.

The group is led by Wayne Plewniak and Daniella Lipper Coules and is expected to join Neuberger Berman's high yield fixed income group in the third quarter. Plewniak and Coules will be managing directors, with Plewniak a senior portfolio manager and Coules a portfolio manager.

Terms of the transaction were not disclosed.

At Lipper, Plewniak, Coules and their team manages more than $500 million in assets, including the Lipper High Income Bond Fund, investment partnerships and separate accounts for both institutional and high net worth clients.

"We are very excited about Wayne, Daniella and their team joining our firm," said Jeffrey B. Lane, president and chief executive officer of Neuberger Berman, in a news release. "We are fortunate to find professionals of their caliber, with such proven track records, to add additional depth to our existing high yield bond capabilities."

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