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Neuberger Berman Group LLC

PRI reporting framework 2017

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities


Roles present in your organisation

          Head(s) of research (3)
          Head of ESG - 2017 hire

Other description (1)

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Our firm’s President and CIO - Equities, who is also a board member of the firm is the chair of our ESG Advisory Committee and has ultimate responsibility for oversight/accountability for our responsible investment practices.  He is joined in the ESG Advisory Committee by senior executives whose functions are critical to overseeing and implementing our RI and ESG policies and practices including:

  • Head of Global Equity Research
  • Manager of External Research
  • Head of Investment Grade Research and Cash/Short Duration Credit
  • Head of Non-Investment Grade Credit Research
  • Head of Corporate Social Responsibility
  • Head of EMEA and Latin America
  • Global Head of Marketing and Client Service
  • Global Head of RFP, Marketing
  • Principal, Private Equity
  • Associate General Counsel
  • And key portfolio managers who are leaders in the ESG/SRI fields (Co-Head of SRI Group, Co-Head of our Emerging Markets Debt Group)

The committee meets on an ongoing basis to discuss/review our firm-wide strategy of RI implementation and each member is responsible for cascading this strategy and carrying it out in his/her division whether it be research, client service, portfolio management, proxy voting , etc.

We made a conscious decision not to compartmentalize or isolate the function to one staff  or department so that the opportunity and responsibility can be shared by a number of key players who are integral to our investment process.

In 2016 we felt it was important to form an ESG Working Group with representation across Research, Strategy, Marketing and Client Service and Product Management to discuss ESG related topics in depth and present findings to the ESG Advisory Committee as needed.  The ESG Working Group meets bi-monthly or more frequently as needed and develops framework for ESG topics and works on related projects to maintain our momentum on our ESG goals as a firm.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

7 Number

07.4. Additional information. [Optional]

The number above includes our SRI Group.

SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.2. Describe any activities undertaken during the reporting year to develop and maintain Board members’ skills and knowledge in relation to responsible investment.

Our President and CIO, who is also a board member of Neuberger Berman, is the chair of our ESG Advisory Committee. He is extremely active in the setting and implementation of our RI strategy and its implementation. Our ESG Advisory Committee members attend events and sessions including panels and receive industry briefings to stay current on ESG/RI issues.

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Other C-level staff or head of department

          Head(s) of research (3)

Portfolio managers

Investment analysts

Other role (1) [from SG 07]
          Head of ESG - 2017 hire

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

The ESG Advisory Committee (comprised of senior executives from all major relevant business lines) is ultimately responsible for the success of ESG implementation therefore at a high level, this responsibility would be incorporated in the performance reviews of these individuals and be a component in determining their compensation.

Each member of the ESG Advisory Committee as well as the broader groups of analysts and portfolio managers who report in to them receive opportunities to become educated and engaged on RI/ESG issues that are relevant to them through panels, briefings, and training such as that done by Bloomberg personnel on ESG data.

The NB SRI Team incorporates ESG related metrics into the group performance review process as they relate to the materiality of portfolio management, individual performance and professional development, and overall contribution to the team.