Neuberger Berman’s board of directors has selected Tom D. Seip as non-executive chairman and Robert Conti as chief executive officer. The two men succeed Peter E. Sundman, who is resigning.

Seip has been lead independent board member since 2006 and a member of the funds’ board since 2000. He was previously CEO of Charles Schwab Investment Management.

Conti has been with the firm for the past 28 years, during which time he has held a variety of mutual fund positions. Most recently he was executive vice president and managing director.

“We are fully supportive of the board’s decision to appoint an independent chairman,” said Neuberger Berman Chief Joe Amato. “Bobby Conti has been a knowledgeable and dedicated leader in our mutual funds organization, and we are confident he will contribute significantly to the funds’ administrative and operational excellence going forward.

“We thank Peter Sundman for his more than two decades of commitment to Neuberger Berman and its clients and wish him well in his new endeavors,” Amato added.

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