Lehman's latest worry: Neuberger Berman execs

Lehman Brothers already has a lot to worry about, so what's one more thing? CNBC reports that Neuberger Berman executives, led by long-money manager Marvin Schwartz, are starting to agitate for a spinoff of the wealth management firm. If Lehman can't sell the unit--and it looks like it can't--perhaps the board will have to consider it seriously. The fall of Lehman's stock has hit many of them hard, as they were paid in Lehman shares. Many signed non-competes, which means they are stuck, or they can quit. Meanwhile, many of the firm's retail brokers are being recruited hard by other firms. Needless to say, they are dismayed. So the stakes are heading higher. If employees and Lehman execs ever lose confidence in CEO Richard Fuld, it could really complicate matters. Perhaps they already have.

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