BNY Mellon has appointed Mitchell Harris as the sole head of the company’s asset management business on an interim basis. Harris also continues in his role as chairman of the fixed income, cash and currency group of BNY Mellon Asset Management. The company is currently conducting a search for a permanent head of the asset management business. Jon Little, who had been serving as interim co-head of the business with Harris, is leaving to accept a new opportunity in the financial services industry. “Our asset management business has great management strength across our boutiques,” says Robert P. Kelly, chairman and chief executive officer of BNY Mellon. “The asset management leadership team has demonstrated resilience through challenging market cycles, continuing to provide our clients with strong investment performance and superior service around the globe. I’m pleased that we have the benefit of Mitchell’s outstanding leadership during this transition period and we wish Jon the best in his new role.”
The China Securities Regulatory Commission has authorised BNY Mellon and Western Securities to create a joint venture fund management company in China. The new company, BNY Mellon Western Fund Management Company, will be owned by BNY Mellon (49 per cent) and Western Securities (51 per cent). BNY Mellon Western Fund Management will initially manage domestic Chinese securities in a range of local retail fund products. Over time, the venture will develop further products using the scale and expertise of the broader BNY Mellon group. BNY Mellon Western Fund Management will also focus on leveraging distribution within the Chinese banking and securities sectors, building awareness of the new company in the region.
Pershing, a BNY Mellon company, has presented an educational initiative on international investing to assist its introducing broker-dealer and independent registered investment adviser customers with capitalising on the growing demand among sophisticated investors for global investment solutions. The initiative combines two guidebooks, International Investing: An Investment Professional’s Guide and International Investing: An Independent Advisor’s Guide, with practice management expertise and extensive global resources and capabilities.
Dreyfus, part of BNY Mellon Asset Management, has presented the Dreyfus Global Real Return Fund, a world allocation fund with an emphasis on global absolute return managed by Newton Capital Management. The fund seeks total return, consisting of capital appreciation and income.
BNY Mellon has nominated Jonathan Little and Mitchell Harris as co-heads of its asset management business on an interim basis. The move follows the departure of the firm’s president and CEO, Ronald O’Hanley. Little is currently vice chairman and represents asset management on BNY Mellon’s executive committee. Harris is BNY’s Chairman of the fixed income, cash and currency group. Both will retain their current roles. The duo will report to BNY Mellon Chairman and CEO, Robert Kelly. The firm will search for a permanent replacement for O’Hanley.
Bank of New York Mellon (BNY Mellon) has nominated Scott Freidenrich as its new executive vice-president and treasurer.
