Neuberger Berman, the New York asset management firm, has appointed Diane Lederman as president and chief executive of Neuberger Berman Trust Company with immediate effect.

Previously, Lederman was head of Neuberger’s wealth planning and general counsel. In her new role, she reports to Kenneth Rende, who has been head of Neuberger Berman’s wealth management business since 2009, the firm said.

Lederman first joined Neuberger Berman in 1998 and has over 25 years of legal and business experience in estate and financial planning. Prior to joining Neuberger, she was senior counsel at the international law firm Proskauer Rose.

The firm oversees around $4.5 billion in assets, with approximately $193 billion in equities, fixed income, and alternative strategies for institutions and individuals.

In December, the firm named Eli Salzmann as manager of the Neuberger Berman Partners Fund and Neuberger Berman AMT Partners Portfolio.

Neuberger Berman Trust Company provides fiduciary services to individuals and mid-size institutions, endowments and foundations.