Matt Malloy was appointed head of Europe, the Middle East and Africa at Neuberger Berman, effective immediately, a spokesperson confirmed.
Malloy succeeded Dik van Lomwel, who has decided to move to the role of vice chair EMEA. Van Lomwel has been head of the EMEA region since 2009. He will focus on supporting client relationships and advising regional leadership.
Malloy is a managing director and joined the firm in 2015, where he led the creation of the insurance solutions business. He retains his responsibilities as head of insurance solutions and head of global institutional client group. His expanded role is subject to regulatory approval.
London-based Malloy leads the $64 billion EMEA business, which grew from $3 billion under van Lomwel's tenure and also saw the expansion of European-based investment teams across public and private markets.
"The decade ahead will present new opportunities and many challenges for our clients given the volatile economic and geopolitical backdrop, and I am confident we can continue to deliver differentiated solutions using our extensive cross-asset investment platform and global talent," Malloy said in a statement.
"Matt's impact on the insurance and global institutional client base and broader contribution to the firm have been significant," Van Lomwel said in the statement. "We know that Matt will approach his leadership of EMEA with the same client-centric approach, discipline, and strategic perspective as he has already displayed."
Neuberger Berman manages a total of $463 billion in equities, fixed income, private equity, real estate and hedge fund strategies.