is shifting two BNY Mellon Investment Management
] distribution channels.
| Joe Moran|
BNY Mellon Investment Management
Head of Intermediary Sales, Americas Distribution
The asset manager's advisor-focused distribution team is taking over the advisor-sold defined contribution investment-only (DC I-O) channel, while BNY Mellon IM's individual boutiques are taking over their own subadvised distribution in the variable annuity channel, a BNY Mellon spokesman confirms.
, head of intermediary sales in the Americas at BNY Mellon IM, and Tripp Braillard
, executive vice president and head of retirement strategic accounts, did not return calls for comment for this story. Dan Steele
, formerly senior vice president, retirement and subadvisory national sales manager, declined to comment.
Our sister publication, 401kWire, digs deeper
into the DC I-O changes at BNY Mellon IM.
"We remain committed to the DCIO market and we have updated our approach to continue to provide exceptional and consistent client service to our partners," BNY Mellon spokesman Ben Tanner tells MFWire
. "The responsibilities of our DCIO field sales team will now reside under our intermediary wholesale team, which we believe will enhance our comprehensive coverage model that reaches the markets that we support and look to grow."
The DC I-O and subadvisory channel shifts come a year after Mitchell Harris took over
as CEO of BNY Mellon IM and ten months after Harris reorganized
BNY Mellon IM.
Neil Anderson, Managing Editor
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