This month the name Neuberger Berman, first heard on Wall Street in 1939 and until now the asset management arm of Lehman Brothers, re-emerges attached to a newly independent partnership.

Neuberger’s team, led by George Walker, chairman and chief executive, and Joe Amato, president, has completed a buy-out from the Lehman estate, marking the end of a tormented seven months during which staff did not know whether they would be paid.