CHICAGO, December 16, 2013 — BNY Mellon, the global leader in investment management and investment services, has added three new professionals to its growing wealth management team in Chicago.
Senior Director for business development Paul Goodrich and Senior Director for portfolio management Edward Costello joined BNY Mellon Wealth Management in November and report to Chicago Regional President Mike DiMedio. Managing Director Robert Mitchell joined this month as part of the firm’s national family wealth advisor team and is also based in Chicago. He reports to Family Wealth Advisor Team Leader Ridgway Powell.
All three newly created positions are part of the firm’s previously announced plan to increase its sales team by 50% by year-end 2014 and add a number of portfolio management and private banking positions.
“Since BNY Mellon opened its doors in Chicago with the 2011 purchase of Talon Asset Management, we have more than doubled the size of our staff to 25,” DiMedio said. “Our office continues to experience robust growth. We will be adding four more professionals around the first of the year and then later in 2014 we plan to hire at least two more business development directors, a wealth strategist and additional support staff.”
Prior to joining BNY Mellon Goodrich was a private client advisor and team leader with overall business development responsibility at U.S. Trust, Bank of America Private Wealth Management. He previously served as vice president at National City Bank from 2005 to 2008 in a business development role managing a team of 15. A 25-year veteran of the financial services industry, he earned his bachelors in history and political science from Kenyon College. Goodrich is involved in a number of community organizations including the Steppenwolf Theater Co. where he serves as treasurer and trustee.
Costello joined BNY Mellon from U.S. Trust, Bank of America Private Wealth Management where most recently he was senior vice president and senior portfolio manager. In addition to managing multi-asset class portfolios for high net worth and institutional client segments, he served as the lead proprietary fixed income portfolio manager for the 14 state Central Division and was team leader for a $5.3 billion portfolio management team. Costello sits on the boards of several community service organizations including the Kids & Clays Foundation. He also serves on the board of advisors for Catholic Charities in Chicago. He is a certified private wealth advisor and earned his bachelor’s in economics from Ripon College.
Mitchell joined from Northern Trust where he held several investment management roles over a 25-year period. Most recently he was a senior portfolio manager and team leader in the firm’s Global Family and Private Office Group and oversaw $5 billion in assets. He is on the investment committee of the Northeast Illinois Council of the Boy Scouts of America and a board member and treasurer for the Deerfield Senior Housing Corp. and the Deerfield Affordable Housing Corp. He earned a bachelor’s in computer science from the University of Illinois at Urbana-Champaign and holds the chartered financial analyst and certified investment management analyst designations.
BNY Mellon Wealth Management is a leading wealth manager with more than two centuries of experience in providing services to clients who today include financially successful individuals and families, their family offices and business enterprises, planned giving programs, and endowments and foundations. It is a leading U.S. wealth manager with nearly $180 billion in private client assets, as of September 30, 2013, and an extensive network of offices in the U.S. and internationally. BNY Mellon Wealth Management, which provides investment management, custody, wealth and estate planning and private banking services to clients, conducts business through various operating subsidiaries of The Bank of New York Mellon Corporation. For more information go to bnymellonwealthmanagement.com or follow us on Twitter @BNYMellonWealth.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of September 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on bnymellon.com, or follow us on Twitter @BNYMellon.