New family office to assist clients of Fuld’s Matrix Advisors

Former Neuberger Berman executives team up with Fuld

Richard Fuld is financially backing Matrix Wealth Partners, a multi-family office that will help small-business owners manage their personal wealth - part of a comeback effort by the former head of failed investment bank Lehman Brothers.

Matrix Wealth Partners, in registering as an investment adviser last month, disclosed that it’s partly owned by Fuld. The New York-based firm’s other owners are Matthew Rubin and Justin Gaines, both of whom come from Neuberger Berman, a former Lehman money-management unit that oversaw about $255 billion at the end of September.

The multifamily office will complement Matrix Advisors, a consulting firm that Fuld set up in the aftermath of Lehman’s September 2008 bankruptcy to help small and medium-sized companies raise cash, according to the filing. Fuld’s clients could hire Matrix Advisors to help them sell their closely held businesses, then turn to Matrix Wealth Partners for advice on how to invest the proceeds. Investment banks such as Morgan Stanley, Goldman Sachs and the former Lehman have employed similar strategies.

“It’s a tried-and-true approach,” said Guy Moszkowski, an analyst at Autonomous Research. “If you are Goldman and you help a company go public,” he said, “you are going to try very hard to be” the private wealth manager for the entrepreneur who cashed out.

MATRIX’S ROOTS.    Fuld, 70, formed Matrix Advisors in early 2009, months after the collapse of the firm that he had built into the nation’s 4^th-largest investment bank. He otherwise has kept a low profile after Lehman’s bankruptcy, a seminal point in the global financial crisis.

In 2015, Matrix Advisors consulted on the sale of the National Stock Exchange and reportedly Fuld also set up a New York real estate firm called Matrix RE Brokerage. Fuld broke his silence that year by speaking at the Marcum MicroCap Conference on Lehman’s demise, the financial crisis and its aftermath.