The month of May is American Jewish History Month, so for this entire month I will continue share the stories of important Jewish figures in American finance. Today, I will share the story of Roy Neuberger, founder of asset management firm Neuberger Berman and also an art patron.
Born on July 21, 1903, in Bridgeport, Connecticut, Neuberger grew up in New York City to a wealthy Jewish family, but was orphaned at the age of 12.
After briefly attending New York University, he left to work in retail before moving to Paris at age 20, where he developed a deep appreciation for art. He enjoyed a bohemian lifestyle there, visiting the Louvre three times a week.
In 1929, Neuberger entered the financial world, just months before the Wall Street Crash. He began his career at Halle & Stieglitz, where he successfully navigated the Great Depression by short-selling stocks. In 1939, he co-founded Neuberger Berman, an investment firm that became a leader in asset management and today has over $474 billion under management. His firm launched the Guardian Fund in 1950, one of the first no-load mutual funds in the U.S., which remains active today.
Beyond finance, Neuberger was a passionate supporter of modern art. He believed in purchasing works from living artists, helping them sustain their careers. His collection included pieces by Jackson Pollock, Willem de Kooning, and Mark Rothko. In 1969, he donated a significant portion of his collection to establish the Neuberger Museum of Art at Purchase College in New York, which now houses over 6,000 works.
Neuberger’s philanthropy extended beyond art, as he served on museum boards and promoted corporate art collections. His memoir, So Far, So Good: The First 94 Years, published in 1997, chronicles his life and philosophy.
Roy Neuberger passed away on December 24, 2010, at the age of 107, leaving behind a legacy of financial innovation and artistic patronage.