Fred Bromberg takes up expanded client executive role in New York
FRANKFURT July 1, 2014 – BNY Mellon, a global leader in investment management and investment services, has announced that Werner Taiber has been appointed as country executive for Germany in addition to his role and responsibilities as CEO of Meriten Investment Management, a specialist investment boutique of BNY Mellon.
He replaces Fred Bromberg, who is leaving Germany to take on an expanded role as a senior client executive within BNY Mellon’s global client management group, based in New York and reporting to Karen Peetz, president of BNY Mellon. Bromberg will remain a member of the German management committee while he works with Taiber to ensure a seamless transition.
Taiber takes up his new role effective July 1, 2014. He will continue to be based in Dusseldorf, reporting to Michael Cole-Fontayn, BNY Mellon’s chairman of Europe, Middle East & Africa, and Mitchell Harris, president, BNY Mellon Investment Management.
Thomas Brand continues in his roles as Head of BNY Mellon’s Investment Services business for German speaking countries and South Eastern Europe and a member of the German management committee, based in Frankfurt.
Michael Cole-Fontayn said: “As a leading European economy that is home to a broad spectrum of sophisticated institutional investors, Germany remains a key growth market for BNY Mellon. As regional executive, Werner will lead the company’s local management team in executing our organic growth plans, implementing our client coverage and servicing model and developing strong relationships with our regulators.
“We thank Fred for his leadership of the business in Germany over the past four years. In his new role, he will be one of a small team of senior client leaders responsible for developing key strategic client relationships globally and delivering the breadth of the firm’s products and services to these institutions.”
Mitchell Harris added: “Werner will ensure we continue to benefit from strong and forward-thinking leadership in Germany, and will be instrumental in ensuring ever tighter coordination locally between our investment services and investment management businesses.
“Werner has strong relationships within the German business community and brings in-depth knowledge and clear insights in respect of our clients’ needs to his new role. He is well-placed to further enhance BNY Mellon’s strong position in the German marketplace.”
Meriten Investment Management GmbH (Meriten Investment Management) is a financial services company offering asset management services to institutional and wholesale clients and is a subsidiary of The Bank of New York Mellon Corporation. Meriten Investment Management manages assets totalling about € 23.2 billion (as of 31 December 2013). Its client base includes corporations, pension funds, mutual funds, endowments, foundations, banks, central banks, savings banks, governmental agencies and insurance companies. Meriten Investment Management does not offer services in the U.S. Meriten Investment Management was founded in 1969 in Düsseldorf (formerly WestLB Mellon Asset Management KAG mbH) and has long established itself as one of the market-leading providers of special funds and fund management services in Germany. For further information, please visit www.meriten.com.
BNY Mellon Investment Management is one of the world’s leading investment management organizations and one of the top U.S. wealth managers, with $1.6 trillion in assets under management as of 31 December 2013. It encompasses BNY Mellon’s affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellonim.com.
BNY Mellon has been serving clients in Germany since 1931. The company opened its first office in Frankfurt in 1972. Following its acquisitions of BHF Asset Servicing and Frankfurter Service KAG in 2010 and Meriten Investment Management in 2012, the company now has more than 650 employees in Germany. In addition to asset servicing, depotbanking, fund administration and asset management, BNY Mellon is active in Germany in the areas of corporate trust, treasury services, collateral management, depository receipts and client management. It has over 200 institutional relationships in Germany, including more than 20 DAX-listed corporations, and offers regional coverage for 14 countries in the German speaking and Central Eastern and South Eastern European region. For more information, see www.bnymellon.de.
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 March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration and $1.6 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 www.bnymellon.com or follow us on Twitter @BNYMellon.