January 17, 2012

Newton Appoints Jeff Munroe to Lead Global Equities Effort

Simon Pryke to become chief investment officer

London & New York, 17 January 2012 — Newton* has announced some changes within its investment team designed to ensure a focus on strong performance across its range of mandates and position the firm for continued growth. Jeff Munroe, currently chief investment officer (CIO), is to lead Newton's global equities effort. Simon Pryke, currently head of private clients and charities, is to assume a redefined role of CIO.

Munroe joined Newton in 1993 as a global equity manager, and was appointed chief investment officer in 2001. He is a member of the Newton board, and has chaired Newton's investment forum as well as co-chairing the Investment Oversight Committee which, as a group, acts as guardian of Newton's investment philosophy and culture. He has 24 years' investment experience.

Helena Morrissey, chief executive officer of Newton*, comments: "We believe that our investment process and philosophy position us well given our expectation of an environment characterised by lower returns and higher volatility. That said, our business has grown in size and complexity over the last few years and we need to remain vigilant about the execution of our investment approach.

"Jeff is committed to seeking consistent performance across Newton's full range of mandates, and has decided to step down from his current role as chief investment officer in order to now lead the Global Equities Team. This will provide strong focus and attention from one of our most senior and experienced investment professionals."

Newton is redefining the role of CIO to ensure its focus on execution of the investment process and effectiveness of the firm's idea generation. Simon Pryke, who has been responsible for private clients and charities at Newton since November 2009, will assume this new role.

Morrissey continues: "Simon understands our investment process, culture, and approach exceedingly well. He has a strong grasp of the investment issues facing the team and the firm and is ideally positioned to lead our investment team as we navigate the ever changing environment."

Pryke joined Newton in 1996 as a global research analyst specialising in the financial sector, with a particular focus on global bank stocks. He combined this role with leadership of the Global Research team for more than six years from 2003.

Caroline Tye will assume responsibility for Newton's Private Clients business. She joined Newton in 1998 and is currently head of UK private clients. Subject to regulatory approval she will join Newton's Board.

Morrissey concludes: "The current investment environment is profoundly different from that experienced by most investors so far in their careers. We believe that our active approach to investment, our thematic investment process, and the changes we are announcing today will help continue to generate positive returns for our investors."

Jon Bell, currently investment leader, global equities, will be joining Newton's multi asset team in a new role.

There will be no change to Newton's distinctive global, thematic investment process and approach.

Newton* is a London-based global asset management subsidiary of The Bank of New York Mellon Corporation and part of BNY Mellon Asset Management. With assets under management of more than £43.4 billion, including assets managed by Newton Investment Management Limited as dual officers of Newton Capital Management Limited and The Bank of New York Mellon, Newton's group of affiliated companies provides a broad range of award-winning investment products and services to individuals, pension funds, charities and corporations. News and other information about Newton is available at www.newton.co.uk.

BNY Mellon Asset Management is one of the world's leading asset management organizations, encompassing BNY Mellon's affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management can be found at www.bnymellonam.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 $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 on www.bnymellon.com or follow us on Twitter @BNYMellon.

* 'Newton' refers to the following group of affiliated companies: Newton Investment Management Limited, Newton Capital Management Limited, Newton International Investment Management Limited, Newton Capital Management LLC and Newton Fund Managers (C.I.) Limited. Assets under management include assets managed by all of these companies except Newton Capital Management LLC, which provides marketing services in the U.S. for Newton Capital Management Limited. Except for Newton Capital Management LLC and Newton Capital Management Limited, none of the other Newton companies offer services in the US and Canada. Newton Capital Management Limited is registered in the United States as an investment adviser under the Investment Advisers Act of 1940. Unless otherwise stated, all information source BNY Mellon Asset Management as at 30 September 2011. This press release is qualified for issuance in the UK, US and Canada 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 &Canada) and BNY Mellon Asset Management International Limited (ex-US/Canada) 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: 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)