Will Play Key Role in Developing Broad Client Relationships
NEW YORK and LONDON, May 9, 2011 — BNY Mellon announced today that Mitchell Harris has been named to the newly created position of president of its Investment Management division, which comprises BNY Mellon Asset Management and BNY Mellon Wealth Management. Harris, who had been interim head of the asset management business, also was named to BNY Mellon's most senior management group, its executive committee. Harris reports to Curtis Arledge, vice chairman of BNY Mellon and chief executive officer of investment management.
"Mitchell's tenure both as a boutique CEO and a seasoned leader of our asset management business provides fantastic continuity. He has done an outstanding job in keeping the asset management business focused on its goals of delivering superior investment performance and client service," said Arledge. "As president of investment management, he will have a key role in developing broad client relationships and focusing on the efficiency and effectiveness of our business processes and infrastructure."
Harris also will partner with Larry Hughes, chief executive officer of BNY Mellon Wealth Management, to further the delivery of asset and wealth management expertise to a broad range of clients. Hughes continues to report to Arledge.
"Our asset management business continues to build momentum," said Harris. "In 2010 we displayed strong investment performance across most of our strategies, as major investment categories improved over 2009. We maintain our focus on improving the performance of the assets we manage for institutions, high net worth clients and mutual fund investors."
Harris will continue as head of BNY Mellon Asset Management's Fixed Income, Cash and Currency Group, overseeing businesses with more than $500 billion in assets under management including Pareto, Standish Mellon Asset Management Company LLC, Alcentra and BNY Mellon Cash Investment Strategies (a division of The Dreyfus Corporation). His prior roles included serving as chief executive officer of Standish and Pareto and he remains chairman of both. Before joining Pareto in 1993, Harris worked at Citibank for 14 years where his responsibilities included managing the private bank business in Germany and Jersey (Channel Islands) and the London private bank for European marketing.
BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
All information source BNY Mellon Asset Management at March 31, 2010. Assets under management for the firms noted may include assets they manage as non-discretionary investment manager for, or by the individual firms' officers as dual officers or employees of, BNY Mellon affiliates. 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 Asset 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. 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(SM)