June 06, 2012

BNY Mellon Announces E. Todd Briddell as New Chief Executive Officer at Urdang

Public and Private Real Estate Investment Boutique Continues Strong Growth

PLYMOUTH MEETING, Pa., June 6, 2012 — BNY Mellon, the global leader in investment management and investment services, has announced that E. Todd Briddell will become the new chief executive officer of Urdang Capital Management, Inc. and Urdang Securities Management, Inc.  Briddell joined Urdang in 1993, and has most recently been president and chief investment officer. 

Richard Ferst, Urdang's current CEO, will become chairman of Urdang.

Urdang is BNY Mellon's investment boutique focused on public and private real estate. Founded in 1987 by Scott Urdang, the firm now has $7.3 billion in assets under management. Urdang has 56 employees working in offices stretching from its headquarters in Plymouth Meeting, PA, to London, Singapore and Newport Beach, CA.

Speaking about Briddell's new appointment, Mitchell Harris, president of BNY Mellon Investment Management, said, "Todd has been a driving force behind the growth of Urdang's domestic and global REIT business.  His experience and background will provide a strong foundation for this next phase of Urdang's growth overall."

Briddell commented, "Urdang is very well positioned to build on our insight into the marketplace and legacy of strong performance as we develop innovative solutions to meet our clients' needs."

All changes are effective July 1, 2012.

URDANG was founded in 1987 with an exclusive focus on institutional investment grade real estate. URDANG offers a variety of strategies and products, managing approximately $4.5 billion in public real estate securities through Urdang Securities Management, Inc. and approximately $2.8 billion (gross) in debt and private equity real estate investments through Urdang Capital Management, Inc. for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.  URDANG's research-driven process combines top down economic analysis and market/country selection with bottom up underwriting of properties, companies and management teams to seek high, risk-adjusted returns.  It is one of the investment boutiques of BNY Mellon Investment Management.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.3 trillion in assets under management. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.

All information source BNY Mellon at March 31, 2012.  This press release is qualified for issuance in the UK and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. This press release is issued by BNY Mellon Investment Management (US) and BNY Mellon Asset Management International Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance.  The value of investments and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements.  When you sell your investment you may get back less than you originally invested. Registered office of BNY Mellon Asset Management International Limited: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority. A BNY Mellon Company