BNY Mellon Plans to Increase its Wealth Management Sales Force by 50%

As many as 100 new positions are planned as part of a major growth strategy

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May 22, 2013, 06:00 ET

NEW YORK and BOSTON, May 22, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, is rolling out a major two-year recruiting campaign to increase BNY Mellon Wealth Management's sales force by 50 percent. In addition, the firm intends to add private bankers and mortgage bankers, portfolio managers and wealth strategists as well as additional sales support staff.

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The campaign represents an important new phase in BNY Mellon Wealth Management's multi-year growth strategy to continue to build presence and capabilities in the US and globally. Despite the sharp economic downturn of 2008, in the past four years BNY Mellon Wealth Management has grown its footprint both organically and through acquisitions. During that time, the firm has made acquisitions in Toronto and Chicago, opened new offices in Dallas, Washington and the Cayman Islands, and added two new offices in Florida, where it now has a total of seven locations. With this initiative, the firm plans to strengthen the sales teams in its current locations and establish offices in other key wealth markets.

By the end of last year, BNY Mellon Wealth Management's total client assets reached a record high of more than $188 billion, making it one of the 10 largest US wealth managers in 2012, according to Barron's.

"Building on our expansion efforts of recent years, we intend to establish a powerful presence in the top-tier US wealth markets and continue to make headway in key global markets as well," said Larry Hughes, CEO of BNY Mellon Wealth Management. "This announcement reflects our profound commitment to the needs of our wealth management and family office clients, as well as the financial professionals who work with them."

"BNY Mellon is deeply committed to building on the strong momentum we've seen in our wealth management business over the past several years," said Curtis Arledge, CEO of BNY Mellon Investment Management. "The wealth management business is an integral part of BNY Mellon Investment Management. As part of a long-term growth strategy, we are dedicating substantial resources toward strengthening wealth management's global distribution capabilities and team."

BNY Mellon has engaged Futurestep, a Korn/Ferry International Company, to partner in the hiring effort. To learn more about BNY Mellon Wealth Management's Sales Careers please visit: http://jobs.bnymellon.com/content/wealth-management/?utm_campaign=WM_PressRelease

BNY Mellon Wealth Management is among the nation's leading wealth managers, with more than two centuries of experience in providing services to clients, who today, include financially successful individuals and families, their family offices and business enterprises, charitable gift programs, and endowments and foundations. It is a leading U.S. wealth manager with more than $188 billion in private client assets, as of March 31, 2013, and an extensive network of offices in the U.S. and internationally. BNY Mellon Wealth Management, which provides investment management, custody, wealth and estate planning and private banking services to clients, conducts business through various operating subsidiaries of The Bank of New York Mellon Corporation. For more information go to www.bnymellonwealthmanagement.com or follow us on Twitter @BNYMellonWealth.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration, and $1.4 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com, or follow us on Twitter @BNYMellon.

SOURCE BNY Mellon