Neuberger Berman terminated its Boston-based team of growth equity managers and replaced it with four growth stock portfolio managers and a product specialist from Northern Trust Global Investments. Jon D. Brorson was named managing director and head of the growth equity group; David H. Burshtan, Kenneth J. Turek and John J. Zielinski, managing directors and portfolio managers; and Kristina Kalebich, managing director and product specialist. All will be based in Chicago.
Jeffrey B. Lane, Neuberger Berman CEO, said the firm's Boston-based growth team, comprising Brooke Cobb, Jennifer Silver, Richard J. Jodka and Michael F. Malouf, was replaced in order to improve performance.
Separately, Mr. Lane said Neuberger Berman also terminated Rick White and Kevin Risen as co-managers of the Neuberger Berman Guardian Fund, a large-cap value fund, for performance reasons. Arthur Moretti, a large-cap value team member, took over management of the fund.
Christine Harmon, a spokeswoman for Northern Trust Global Investors, said all four portfolio managers handle mutual fund, separate account and subadvisory portfolios. Replacements for the Northern Trust growth team were found internally, said Ms. Harmon. Details were not available by press time.
