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Financial Advisory  + Wealth Management  |  May 9, 2023
NB Hires Former SVB CIO Shannon Saccocia for Private Wealth Division
Joe Palmisano
By: Joe Palmisano

NB Hires Former SVB CIO Shannon Saccocia for Private Wealth Division

Investment manager Neuberger Berman has hired former chief investment officer at Silicon Valley Bank Private Wealth Shannon Saccocia, effective Monday, in a new role as Chief Investment Officer, NB Private Wealth (NBPW).

Saccocia will work to establish market views, asset allocation and portfolio recommendations, along with leading the NBPW investment platform.

“We are delighted to have Shannon join our team. She brings highly relevant experience as we continue to invest in our Private Wealth franchise and enhance our capabilities,” said Stephanie Luedke, CFA, Head of NB Private Wealth.

SVB acquired Saccocia’s previous firm Boston Private, a registered investment advisor, which had bought Banyan Partners, where Saccocia was managing director of search and selection. Before joining Banyan, she was director of manager search and selection at Silver Bridge.

Founded in 1939, Neuberger Berman manages $436 billion in client assets with NBPW overseeing $66 billion in ultra-high- and high-net-worth individuals and families.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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