July 12, 2012

Standish Names Jeffrey Passmore as Senior Liability Strategist

BNY Mellon Investment Manager to Add Depth to LDI Solutions Group

BOSTON, July 12, 2012 — Standish Mellon Asset Management Company LLC, the fixed income solutions provider for BNY Mellon, has hired Jeffrey Passmore, CFA, FSA, EA as senior liability strategist, further strengthening the actuarial capabilities at the company.

Passmore, an actuary, will work closely with Standish's affiliate, BNY Mellon's Investment Strategy & Solutions Group, a division of The Bank of New York Mellon (ISSG), in providing liability driven investing (LDI) solutions to Standish's pension clients. LDI strategies account for more than $12 billion of the $92 billion in assets that Standish manages for clients. ISSG also has actuarial capabilities.

Standish's approach to LDI combines liability analysis, monitoring and reporting expertise with investment solutions.  In this newly created position, Passmore reports to Andrew A. Catalan, managing director and head of LDI strategies for Standish. 

"Jeff Passmore brings a wealth of experience as a consultant advising pension funds on complex liability strategies," said Catalan.  "We believe he will be a valuable member of our LDI team as we continue to evolve our strategic partnerships with plan sponsors who are seeking sophisticated solutions."

Passmore most recently had been an investment consultant for Buck Global Investment Advisors, where he provided investment consulting services to corporate retirement plans sponsors, and other institutional clients. Passmore received his bachelor's degree from the University of Texas, and is a CFA charterholder.  He is a Fellow of the Society of Actuaries, a member of the American Academy of Actuaries and an Enrolled Actuary.

Standish Mellon Asset Management Company LLC, with approximately $92 billion of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit (investment-grade and high-yield), emerging markets debt (dollar-denominated and local currency), core / core plus and opportunistic (U.S. and global) strategies.  Standish also offers full service capabilities in insurance and liability driven investing. The firm also includes assets managed by Standish personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon.

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.

All information source BNY Mellon Asset Management as of March 31, 2012. This press release is qualified for issuance in the US only 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 authorized. This press release is issued by BNY Mellon Investment Management 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.
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