November 08, 2011

BNY Mellon Promotes a Seasoned Wealth Management Professional to New Advisory Role


25-year Veteran Ridgway Powell to Focus on Serving Firm's Largest Clients

NEW YORK and BOSTON, November 8, 2011 — BNY Mellon's wealth management business has named Ridgway Powell to lead its corps of wealth advisors, a specialist team of experts who work with ultra high net worth families and family offices. Reporting to Donald Heberle, head of Family Wealth and International Businesses, Powell will serve as Managing Director and team leader of the firm's advisors supporting ultra high net worth families and family offices.

Powell has served with BNY Mellon for 25 years in progressively responsible positions across several units, most recently as director of investments for the wealth manager's Family Office Services group. Prior to that, he served eight years as portfolio management team leader overseeing five portfolio managers and responsible for $1.2 billion in assets under management. Throughout his tenure at the company he has also been part of several committees that help drive the firm's investment strategies.

"Ridge is a talented manager and has highly developed investment and wealth management expertise that will add significantly to BNY Mellon's products and services for our very largest clients and their complex investment, planning and banking needs," Heberle said. BNY Mellon has served ultra high net worth families and family offices for multiple generations and was one of the pioneers of the family office concept, Heberle added.

Powell, who lives in Concord, Mass., earned his BA in economics from Denison University and is member of the Boston Security Analyst Society and a Certified Financial Planner. He is a past trustee for Concord Town Gifts, is treasurer for Friends of Concord-Carlysle High School Men's Soccer and is involved with Kicks for Cancer an annual fundraiser to benefit the Dana Farber Cancer Institute in Boston.

BNY Mellon Wealth Management is among the nation's leading wealth managers, with more than two centuries of experience in providing investment management, wealth and estate planning, and private banking services to financially successful individuals and families, their family offices and business enterprises, charitable gift programs, and endowments and foundations. It is among the top 10 U.S. wealth managers with about $170 billion in private client assets and an extensive network of offices in the U.S. and internationally.

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 $25.9 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 $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available at www.bnymellon.com or follow us on Twitter @bnymellon.