Addition of Johnston underscores BNY Mellon Wealth Management’s overall growth strategy
NEW YORK, November 21, 2013 — BNY Mellon, the global leader in investment management and investment services, has named William Johnston to a newly created position of head of private banking solutions within BNY Mellon Wealth Management. Reporting to Executive Director of Private Banking Bill Sappington, Johnston is responsible for leading the private bankers and escrow bankers and coordinating the activities of the mortgage banking officers in the field. Additionally, he will also work with regional presidents and channel partners to develop and implement private banking growth strategies.
“Bill is well-respected in the industry for his deep expertise and leadership experience in serving the sophisticated credit and banking needs of high net worth clients including entrepreneurs and investors,” Sappington said. “He will be the key point person with our regional presidents and channel partners to develop and implement private banking growth strategies.”
Growth has been a recurring theme for BNY Mellon Wealth Management, which plans to expand its sales force by 50% and add private bankers and portfolio managers as well by year-end 2014. Over the past three years the private banking group has hired 20 client-facing professionals and expanded its footprint in several of the top U.S. wealth markets including Florida, Seattle, San Francisco and Chicago. In another phase of its growth strategy, the private bank also hired banking industry veteran Bob Larue to introduce an array of private banking, credit and lending services to registered investment advisors through BNY Mellon’s Pershing Advisor Solutions.
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.