He replaced Chris Biotti who left Neuberger Berman.

Layton, who joins as a senior vice president, previously worked at Bernstein Global Wealth Management, part of AllianceBernstein, as a senior private client wealth advisor.

At Neuberger, he reports to Terry Riordan, Chicago-based regional director of Neuberger Berman Wealth Management.

Before joining AllianceBernstein Layton co-founded Broadleaf Services, an IT services company, and was also a founding member of THINQ Learning Solutions, an e-learning company that went on to be acquired by SABA.

In other recent development at Neuberger Berman, in October Glickenhaus & Co, an investment manager with $900 million in high net worth client assets, transitioned its business to the firm in an undisclosed transaction. Glickenhaus, which was founded in 1961, will no longer manage client assets but remains open for family and foundation assets.

Seth Glickenhaus, 98, began his career on Wall Street before the 1929 crash and was a long-time friend of Roy Neuberger, who founded the eponymous firm back in 1939.

Neuberger Berman, which remains employee-controlled, provides investments across equities, fixed income, and alternatives, and had $203 billion in assets under management as of 30 September, 2012.