BNY Mellon Firm Adds Depth to Service its Most Sophisticated RIA Clients Across Country
NEW YORK, August 2, 2012 — BNY Mellon Investment Management's Strategic Business Development Group has hired 25-year financial services sales veteran Dan Cronin to join the firm as senior vice president, responsible for business development in the Registered Investment Advisor (RIA) channel.
Cronin, whose career has been spent helping RIAs find solutions to their evolving needs across custody, brokerage and investments, joins the firm from RBC Advisor Services, where he was a senior vice president responsible for business development for RBC's full-service custody and brokerage offerings to RIAs.
"Dan will be responsible for increasing the market share of BNY Mellon Investment Management strategies and Dreyfus funds at our largest, most sophisticated RIA clients across the nation," said Robert Capone, Executive Vice President, Strategic Business Development. "Working in close collaboration with our RIA Regional Consultants, Dan will ensure that we are properly addressing and prioritizing the investment needs of the full spectrum of the RIA market." Capone added that Cronin will also be working closely with BNY Mellon's investment boutiques, as well as other businesses across BNY Mellon to help identify opportunities, provide a tailored, consultative client experience and deliver the whole company to clients. "We could not be more pleased to have Dan's expertise to offer to our growing RIA client base," Capone concluded.
Cronin will report to David DiPetrillo, who heads the RIA channel. They noted that BNY Mellon's multi-boutique model emphasizing institutional-grade investment management capabilities across a diverse range of styles and asset classes has resonated extremely well with RIAs, particularly with respect to the their innovative, solutions-oriented, fiduciary approach to clients.
Prior to joining RBC, Cronin was a Regional Vice President for Fidelity Investments Institutional Wealth Services, where he managed a team responsible for custody and institutional brokerage sales to Asset Managers. Prior to that role, he was a Vice President of Sales at Fidelity Investments Registered Investment Advisor Group, where he sold custody and institutional brokerage services to fee-based RIAs with AUM between $50 million and $5 billion.
Earlier in his career, Cronin held numerous roles at Fidelity and Schwab, where he sold a range of products (including custody, mutual funds, and asset allocation services) to RIAs as well as High Net Worth Investors. With a Bachelor of Arts degree in Economics from the University of Massachusetts, Cronin also holds the Series 7, 9, 10, and 63 FINRA licenses.
The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading investment management and distribution companies, currently managing approximately $400 billion in mutual funds and separately managed accounts. Strategic Business Development is a division of MBSC Securities Corporation and a subsidiary of Dreyfus.
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.
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