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Thursday, February 25, 2016

Meet BNY Mellon's Next Arledge

News summary by MFWire's editors

There's a new CEO atop a $1.6-trillion AUM, global multi-boutique asset manager.

Curtis Arledge
BNY Mellon
Former Chief Executive Officer of Investment Management, Vice Chairman
Curtis Arledge, 50, CEO of BNY Mellon's [profile] investment management business and vice chairman of all of BNY Mellon, has left the New York-based custodial banking giant, BNY Mellon chairman and CEO Gerald Hassell confirms. Mitchell Harris, 61, president of BNY Mellon investment management, has succeeded Arledge as the unit's CEO, effective immediately. He reports to Hassell.

Blooomberg and P&I both covered the news.

Arledge, according to BNY Mellon's press release, "has decided to pursue other opportunities outside of the company."

Hassell lauds Harris' "impressive track record in the investment management industry."

"He is well regarded across our client base, and I am confident he will lead our investment management business with great insight and success," Hassell states.

Along with Harris' promotion and Arledge's departure, Hassell is also making an organizational change. Michelle Neal, president of BNY Mellon's markets group, had reported to Arledge. Yet now Neal will report not to Harris but directly to Hassell.

Mitchell Harris
BNY Mellon
Chief Executive Officer, Investment Management
An alumnus of SUNY Albany, Harris has worked for the City of New York, for Citibank in private banking, and for Pareto Partners. He led BNY Mellon fixed income boutique Standish from 2004 to 2009. He became one of two interim co-heads of asset management at BNY Mellon in 2010, shortly before Arledge took over. Harris rose to the newly-created role of president of investment management in 2011.

Arledge is an alumnus of Princeton. Like Harris, he comes from the fixed income side of the business. He worked at Salomon Brothers, BlackRock, Mariner Investment Group, Wachovia (now part of Wells Fargo), and then BlackRock again before taking over BNY Mellon's investment management business in 2010. 

Edited by: Neil Anderson, Managing Editor

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