The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:BNY Mellon Sees Another Change in its Top Ranks Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 03, 2010

BNY Mellon Sees Another Change in its Top Ranks

News summary by MFWire's editors

There's a new chief at Bank of New York Mellon's wealth management unit. A spokeswoman for the New York-based bank confirmed that former wealth management chief David Lamere resigned from BNY Mellon last month and that Lawrence Hughes has stepped up to fill the role.

The move follows the recent departure of Lamere's counterpart atop the asset management unit, Ron O'Hanley, who is jumping to Fidelity this summer to lead corporate services and asset management (see The MFWire, 5/10/2010). According to an SEC filing, O'Hanley will leave BNY Mellon by August 8. The bank has yet to name a permanent successor for O'Hanley, but Mitchell Harris and Jonathan Little are currently filling O'Hanley's shoes on an interim basis.

Hughes, a 19-year company veteran who now reports to BNY Mellon chairman and CEO Robert Kelly, previously served as president of U.S. markets for BNY Mellon's wealth management unit. That unit works with $157 billion in private client assets.

"Larry's appointment ensures the continuation of a successful growth strategy that has resulted in 17 consecutive quarters of positive long-term asset growth," Kelly stated.

Bloomberg and Dow Jones both reported on the news.

Company Press Release

NEW YORK, May 17, 2010 - BNY Mellon has appointed Lawrence Hughes as chief executive officer of BNY Mellon Wealth Management. Mr. Hughes will report to Robert P. Kelly, chairman and chief executive officer of BNY Mellon.

Mr. Hughes has been serving as president of U.S. Markets for BNY Mellon Wealth Management, responsible for all client-related and sales activities for the company’s wealth management business. He has been with the company for 19 years, serving in a variety of increasingly senior roles, including chief operating officer of Mellon’s Private Wealth Management group and executive director for BNY Mellon Wealth Management’s Eastern U.S. Markets. He replaces David F. Lamere who has announced his resignation from the company.

“Larry’s appointment ensures the continuation of a successful growth strategy that has resulted in 17 consecutive quarters of positive long-term asset growth. He and the experienced leadership team across the wealth management organization will ensure outstanding continuity for our clients and our employees,” said Robert P. Kelly, chairman and chief executive officer of BNY Mellon. “Larry and Dave have worked together to craft a winning strategy for the business and I have great confidence in Larry’s ability to lead the execution of our growth plans. I want to thank Dave Lamere for his outstanding 27-year career at our company, his relentless commitment to client service excellence and his many contributions to our success.”

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 $157 billion in private client assets and an extensive network of offices in the U.S. and internationally.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Additional information is available at www.bnymellon.com. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. Director Discussion Series - Open Forum via Zoom, September 29
  2. IMEA roundtable - Portfolio Construction, September 29
  3. MMI webinar - The Future of Marketing is Changing ... Are You Ready?, September 29
  4. IDC Speaker Series - A Conversation with Roger Ferguson, October 3
  5. IDC webinar - A Conversation with Roger Ferguson, Jr., October 3
  6. 5th annual Expect Miracles Atlantic Coast Classic, October 3
  7. Nicsa Fearless Leadership Symposium, Oct 6-7
  8. 7th Annual FUSE Forum, October 6
  9. 2022 ICI Securities Law Developments Conference - day 1, October 11
  10. MFDF Director Discussion Series - Open Forum (San Francisco), October 12
  11. 2022 ICI Securities Law Developments Conference - day 2, October 13
  12. MFDF In Focus: ESG Data Requirements - What Directors Need to Know, October 19
  13. 2022 MMI Annual Conference, Oct 19-21
  14. 2022 IDC Fund Directors Conference, Oct 24-26
  15. 18th annual Expect Miracles Wine & Spirits Event, October 27
  16. Buford Capital Securities Litigation Symposium, November 1
  17. IMEA All-Council Fall Summit, Nov 2-3
  18. Nicsa 2022 General Membership Meeting, Nov 2-3
  19. Tiburon CEO Summit XLIII, Nov 7-9
  20. 2022 ICI Tech Summit, Nov 8-9
  21. UCITS & AIFMD for U.S. Managers - New York, Nov 8-9
  22. 2022 MMI Distribution Leadership Forum, Nov 9-10
  23. MFDF Asset Management Industry Update and Director Governance Trends, November 10
  24. 3rd Annual ETFGI Global ETFs Insights Summit - United States, Nov 15-16
  25. 2022 MMI Alternative Investments Forum, November 16
  26. MFDF webinar - Mutual Fund CCO Compensation: The MPI Annual Survey Update, November 16

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use