Neuberger Berman has brought an industry heavy-weight on board to help guide it as it merges with Lehman Brothers. The new hire at the New York-based fund firm is former U.S. Trust honcho Jeffrey S. Maurer. He takes the title of executive vice president and also joins Neuberger Berman's executive management committee.

"Jeffrey Maurer is a seasoned wealth management professional," said Jeffrey B. Lane, president and chief executive officer of Neuberger Berman in a statement. "His extensive depth of knowledge and experience in all aspects of the wealth and investment management business will continue to enhance our commitment to serving high net worth individuals, families and family offices."

Maurer spent three decades at U.S. Trust and is credited as being one of the key executives behind that firm's success in catering to affluent investors. He joined U.S. Trust in 1970 and rose to become president and chief operating officer from 1994 to 2000.

He was promoted to chief executive officer and chairman of U.S. Trust in 2001 and helped guide the New York City-based firm through its sale to Charles Schwab. He retired in 2002.

Maurer is also a director of Forbes.com and the Greater New York Insurance Companies, in addition to several charitable, educational, artistic, and health-care organizations.

He is also the author of Rich in America: Secrets to Creating and Preserving Wealth.

"I am pleased to be joining a firm of such high integrity, with an exceptional reputation and strong heritage," said Maurer. "Neuberger Berman has the talent and resources essential for delivering premier wealth management services, and I am delighted to become a contributing member of their senior management team." 

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