Neuberger Berman Announces Partnership with Samsung Securities and Samsung Asset Management to Expand Investment Offerings in the Republic of Korea
NEW YORK and SEOUL, November 3, 2014 — Neuberger Berman Group LLC, one of the world’s leading employee-controlled investment managers, Samsung Securities Co., Ltd, and its affiliate Samsung Asset Management Co., Ltd, Korea’s leading asset management company, announced a cooperation agreement to offer an enhanced suite of Neuberger Berman investment products in the Republic of Korea.
Andy Komaroff, Chief Operating Officer of Neuberger Berman, Youngwoan Chung, Head of the Strategic Business Division at Samsung Securities, and Young June Park, Head of the Marketing Division at Samsung Asset Management, signed the Memorandum of Understanding (MOU) among the three firms on October 27, 2014 at the Samsung Asset Management headquarters in Seoul.
Under this agreement, Neuberger Berman, a global manager of assets across equities, fixed income and alternative investments, expects to work with Samsung Securities and Samsung Asset Management to offer a broad range of investments to the Korean market and co-develop new strategies in the future.
Youngwoan Chung, of Samsung Securities, said: “With this new partnership, we are able to secure a broader range of global products to create a diversified client portfolio.” He added: “Going forward, we will proactively develop differentiated new products combining Neuberger Berman’s resources and Samsung’s investment ideas.”
Young June Park, of Samsung Asset Management, said: “We expect that this agreement will allow for a meaningful and continuous exchange of expertise between Samsung and Neuberger Berman on areas such as portfolio management, market intelligence, product development and others.”
“We are very pleased to partner with Samsung Securities and Samsung Asset Management as Neuberger Berman expands its footprint in Korea and Samsung seeks to broaden its global investment line-up,” said Neuberger Berman’s Komaroff. “We see this as an excellent example of joint cooperation among three significant firms and we look forward to working with Samsung on behalf of clients going forward.”
About Samsung Securities
Samsung Securities is a leading Korean financial investment company that provides a wide range of financial services from brokerage, wealth management and investment advisory services to corporate finance and trading. With creative financial solutions in the HQ, about 72 branches nationwide and 3 overseas subsidiaries, 1 branch and 1 representative office, Samsung Securities has always been a pioneer in the development of the capital markets in South Korea, achieving an industry-leading securities firm name and acquiring several industry records in the process—including being the first to sell mutual funds and equity linked securities, and establish client assets over KRW 100 trillion. For more information, please visit our website at www.samsungpop.com.
About Samsung Asset Management
Since its establishment in September 1998, Samsung Asset Management has been leading Korea’s asset management and discretionary investment advisory industries. As of December 2013, the Company’s total AUM stood at KRW 127.4 trillion, the largest of its kind in the nation, and this can be attributed to the Company’s advanced investment system and best-in-class in-house research capacity which in turn have attracted more customers and their investments. For more information, please visit our website at www.samsung.com.
About Neuberger Berman
Neuberger Berman is a 75-year-old private, independent, employee-controlled investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 17 countries, Neuberger Berman’s team is more than 2,000 professionals and the company was named by Pensions & Investments as a 2013 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $247 billion in client assets as of September 30, 2014. For more information, please visit our website at www.nb.com.