MutualFundWire.com: BNY Mellon Creates a New Top-Level Job
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Monday, May 09, 2011|
BNY Mellon Creates a New Top-Level Job
BNY Mellon, whose empire includes Dreyfus Corp., has tapped Mitchell Harris as president of its investment management division. The role is newly created. Harris continues to report to Curtis Arledge, BNY Mellon vice chairman and CEO of investment management.
Harris "will have a key role in developing broad client relationships and focusing on the efficiency and effectiveness of our business processes and infrastructure," Arledge said in a press release on Monday.
| Mitchell Harris|
President of Investment Management
The investment management division is made up of the asset management and wealth management businessses.
Fundsters may recall that when Ron O'Hanley jumped from BNY Mellon to Fidelity last year, Harris, together with Jon Little, served as interim co-heads
of the asset management business. Little left the company in July, shortly before Arledge's arrival.
Aside from his new role as investment management president,
Harris will continue to run BNY Mellon Asset Management's fixed income, cash and currency group.
He oversees businesses with more than $500 billion in AUM including Pareto, Standish Mellon Asset Management Company LLC, Alcentra and BNY Mellon Cash Investment Strategies.
Harris joined Pareto in 1993. Before that, he was with Citibank for 14 years.
Company Press Release
BNY Mellon Names Mitchell Harris President of Investment Management
Will Play Key Role in Developing Broad Client Relationships
NEW YORK and LONDON, May 9, 2011 -- BNY Mellon announced today that Mitchell Harris has been named to the newly created position of president of its Investment Management division, which comprises BNY Mellon Asset Management and BNY Mellon Wealth Management. Harris, who had been interim head of the asset management business, also was named to BNY Mellon's most senior management group, its executive committee. Harris reports to Curtis Arledge, vice chairman of BNY Mellon and chief executive officer of investment management.
"Mitchell's tenure both as a boutique CEO and a seasoned leader of our asset management business provides fantastic continuity. He has done an outstanding job in keeping the asset management business focused on its goals of delivering superior investment performance and client service," said Arledge. "As president of investment management, he will have a key role in developing broad client relationships and focusing on the efficiency and effectiveness of our business processes and infrastructure."
Harris also will partner with Larry Hughes, chief executive officer of BNY Mellon Wealth Management, to further the delivery of asset and wealth management expertise to a broad range of clients. Hughes continues to report to Arledge.
"Our asset management business continues to build momentum," said Harris. "In 2010 we displayed strong investment performance across most of our strategies, as major investment categories improved over 2009. We maintain our focus on improving the performance of the assets we manage for institutions, high net worth clients and mutual fund investors."
Harris will continue as head of BNY Mellon Asset Management's Fixed Income, Cash and Currency Group, overseeing businesses with more than $500 billion in assets under management including Pareto, Standish Mellon Asset Management Company LLC, Alcentra and BNY Mellon Cash Investment Strategies (a division of The Dreyfus Corporation). His prior roles included serving as chief executive officer of Standish and Pareto and he remains chairman of both. Before joining Pareto in 1993, Harris worked at Citibank for 14 years where his responsibilities included managing the private bank business in Germany and Jersey (Channel Islands) and the London private bank for European marketing.
BNY Mellon Asset Management is the umbrella organization for BNY Mellon's affiliated investment management firms and global distribution companies.
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 $25.5 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 $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com.
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