Becoming the fourth-largest independent asset manager has not been the most important point to the senior employees of Neuberger Berman, who acquired the company this month from its former owner, failed bank Lehman Brothers, to take fourth slot behind rival privately owned firms Fidelity, Wellington and Capital.

Gaining freedom is more important than being big, according to Dik van Lomwel, managing director of Neuberger Berman Europe.