Firm Moves to Larger Offices Four Blocks From the White House
WASHINGTON and NEW YORK, November 15, 2011 — BNY Mellon today announced the opening of its wealth management office in Washington D.C., the nation's fourth largest wealth market.
The office is conveniently located in downtown Washington, four blocks from the White House and adds to BNY Mellon's existing business presence in this important market.
"This office opening is a continuation of our strategy to be in all of the nation's most important wealth markets," said Larry Hughes, CEO of BNY Mellon Wealth Management. "Our Washington office means we now have a meaningful presence in all of the top ten wealth markets up from seven just a year ago," Hughes said.
These moves are the latest developments in the wealth manager's efforts to add staff, and establish offices in new markets both domestically and globally. Six months ago the firm closed its deal to purchase the investment management business of Talon Asset Management, a well-known Chicago firm, and a year ago it completed its acquisition of i3 Wealth Advisors of Toronto. Over the past two years, the firm has also established a beach head in the lucrative Texas market and raised its stature in key West Coast markets.
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 and follow us on Twitter @BNYMellon.