Barclays hires 16 for the Wealth and Investment Management division

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“We are pleased to welcome these talented individuals to Barclays,” said Mitch Cox , Head of Wealth Management, Americas for Barclays.  “The addition of these seasoned Investment Representatives demonstrates our continued focus on serving the sophisticated needs of our clients across the Americas.  These hires underscore our commitment to attracting top-performing professionals who seek Barclays unique, in-depth approach, of guiding clients to customized solutions that extend far beyond their investment portfolio.”

New York

Ramon Hache joins Barclays as a Managing Director from Deutsche Bank’s Markets Coverage Group, where for 10 years he served high net worth individuals and family offices based primarily in Latin America.  Prior to joining Deutsche Bank, Mr. Hache was an Investment Advisor at HSBC and a Sales Trader in the Private Banking division of JP Morgan. Mr. Hache holds a BS from Marist College.

Stephen Brazell joins Barclays as a Director from Deutsche Bank’s Markets Coverage Group where he served high net worth individuals and family offices based primarily in Latin America.  Prior to joining Deutsche Bank in 2004, Mr. Brazell was the Head of Private Bank Emerging Markets desk at JP Morgan.  Mr. Brazell holds a BS from Indiana University and an MBA from the University of New Hampshire. 

Joseph Chung joins Barclays as a Director from Deutsche Bank’s Markets Coverage Group where he advised ultra high net worth clients based in Latin America.  Prior to joining the Markets Coverage Group, Mr. Chung worked in the Private Wealth Management division at Deutsche Bank, which he joined in 2003.

Steven C. Guggenheimer joins Barclays as a Director from Merrill Lynch’s Global Wealth Management division, bringing with him over 26 years of wealth management experience.  Most recently, Mr. Guggenheimer was a Senior Vice President at Merrill Lynch, where he served high net worth individuals.  Prior to this, Mr. Guggenheimer was a Managing Director at Neuberger Berman. He holds a BA from Haverford College.

George M. Zaki joins Barclays as a Vice President from Merrill Lynch’s Global Wealth Management division.  Most recently, Mr. Zaki was a Financial Advisor at Merrill Lynch serving high net worth individuals.  Previously, he was a Client Associate at Neuberger Berman. Mr. Zaki holds a BA from Fairmont State University.

Jonathan Mann joins Barclays as a Director from AllianceBernstein bringing with him more than 29 years of industry experience.  Previously, Mr. Mann was responsible for the overall management of Bernstein Global Wealth Management’s New York Region and was a Senior Portfolio Manager for Bernstein’s International Value Team.  He holds a ­­­­­BA from Rutgers College and an MBA from the Wharton School of the University of Pennsylvania.  Mr. Mann serves on the Board of the American Friends of the Open University of Israel.

All six Investment Representatives report to Mark Stevenson , Managing Director and Regional Manager for New York.

Houston

Don Childress , CFA joins Barclays as a Director from the Private Wealth Management division of Goldman Sachs, bringing more than 14 years of experience serving high net worth clients and families.  Prior to joining Goldman Sachs, Mr. Childress spent five years in the Tax Accounting and Investment Banking divisions at Price Waterhouse LLP.  He holds a BBA from Baylor University and an MBA from the University of Texas at Austin.

Jeff Collins also joins Barclays as a Director from the Private Wealth Management division of Goldman Sachs, bringing more than 15 years of wealth management experience.  Prior to joining Goldman Sachs, Mr. Collins worked in Real Estate Development at Austin Capital Partners.  He holds a BA and an MBA from the University of Texas at Austin.

Neil Stone also joins Barclays as a Director from the Private Wealth Management division of Goldman Sachs, bringing more than 14 years of experience serving high net worth clients and families.  Previously, Mr. Stone worked in the Investment Banking division at Prudential Securities and in Loan Syndication at Texas Commerce Bank, Chemical Bank.  He holds a BA and an MBA from the University of Texas at Austin and serves on the board of Houston Arboretum & Nature Center.

This team of Investment Representatives in Houston report to Steve Head , Managing Director and Regional Manager for Texas.

Beverly Hills

Watt W. Webb III joins Barclays as a Director from BNY Mellon where he was a Senior Director – Portfolio Management serving ultra high net worth families, executives, hedge fund managers, and business owners.  Prior to joining BNY Mellon, Mr. Webb was a Senior Vice President – Equity Research and Portfolio Management at Oakwood Capital Management LLC, and Portfolio Manager at Cornerstone Investment Counselors, Inc.  He holds a BA from Cornell University, an MA from The Johns Hopkins University and an MBA from Harvard Business School.

Warren Cohn joins Barclays as a Director from US Trust bringing with him over 20 years of industry experience. At US Trust, Mr. Cohn was a Senior Private Client Advisor providing a variety of wealth planning and financial management services to clients within the entertainment and sports industry. Previously, Mr. Cohn was a Senior Director in the Private Wealth Management Group at BNY Mellon. He holds a BA from The George Washington University and an MBA from Nova Southeastern University.

Mr. Watt and Mr. Cohn report to Brian Sears , Managing Director and Regional Manager for the Los Angeles and Beverly Hills offices .

Los Angeles

Adam Morgens, CFA joins Barclays as a Vice President with over eight years of industry experience. Mr. Morgens joins the organization from the Institutional Sales division of UnionBanc Investment Services LLC, which is the broker-dealer subsidiary of Union Bank, N.A.  Serving as a Vice President at Union Bank, he developed and managed relationships with institutional and middle market fixed income portfolio managers. Prior to working in institutional sales, Mr. Morgens traded all aspects of fixed income for the broker-dealer, including corporate bonds, mortgage-backed securities and municipal bonds. He holds a BS from the University of Southern California, Marshall School of Business.

Mr. Morgens reports to Brian Sears , Managing Director and Regional Manager for the Los Angeles and Beverly Hills offices.

Boston

Barry Pederson joins Barclays as a Director, bringing with him 20 years of financial services experience. At his predecessor firms, Morgan Keegan , Sterne Agee & Leach and A.G. Edwards , he was a partner on the institutional sales and research teams.  Before entering the financial services industry in 1993, Mr. Pederson played twelve seasons, 1980-1992, of professional hockey in the National Hockey League for the Boston Bruins, Vancouver Canucks, Pittsburgh Penguins and Hartford Whalers.  He is also a studio co-host for the New England Sports Network’s (NESN) Boston Bruins television broadcasts.

Mr. Pedersen reports to Marty Courage , Managing Director and Regional Manager for Boston.

Chicago

Adam Strauss joins Barclays as a Vice President from the Private Wealth Management Division of Goldman Sachs where he served high net worth individuals and families.  Prior to joining Goldman Sachs in 2010, Mr. Strauss was a Managing Consultant at Michael Page International. He holds a BS in from Denison University and an MBA from The University of Iowa.

Mr. Strauss reports to Bill Scherr , Director and Regional Manager for Chicago.

Miami

Ileana Platt joins Barclays as a Director from the Private Banking division of Credit Suisse bringing with her more than 24 years of wealth management experience.  At Credit Suisse Ms. Platt was a Director serving high net worth individuals and families in Peru, Mexico, Bolivia, and Panama. Prior to joining Credit Suisse, Ms. Platt was a Vice President at Donaldson, Lufkin & Jenrette Securities Corporation and worked for the US Private Wealth Management division of Citibank. She holds a BBA and an MBA from Florida International University.

Rafael Urquidi also joins Barclays as a Director from the Private Banking division of Credit Suisse where he served high net worth clients and families.  Prior to joining Credit Suisse, Mr. Urquidi held positions at Donaldson, Lufkin & Jenrette Securities Co. and UBS International.  He holds a BS from the Moore School of Business at the University of South Carolina.

Ms. Platt and Mr. Urquidi report to Marilyn Gonzalez , Director and Regional Manager for Miami.

With 14 offices across the U.S. including the Barclays Wealth Trustees (U.S.), NA., the Wealth and Investment Management division of Barclays provides comprehensive wealth management to high net worth individuals and families.  Barclays focuses on understanding its clients’ financial needs, personal aspirations and risk tolerance in order to design and implement highly customized investment solutions.

Eagle Production Inc, ready to bring its new fund to investors

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How did the fund started?

After years of working on individual prospects focused on the Permian Basin, and through that process creating a large inventory of prospects, Eagle Production Inc (EPI) has reached the critical mass of “going public”. The fund is a way to take EPIs expertise and experience to the next level of oil and gas production and to add value for all our investors. This process has also been aided by recent technological advances in reservoir research, plus drilling and completion technology, including fracking.

What is your investment process?

First, EPI is currently high-grading prospects, adding to prospects based on economic and geological analysis, and drilling wells with existing partners. With the fund, the process is that EPI is making these investment opportunities available to a wider range of investors looking for alternative low risk high return options. The fund structure provides security and transparency, with a proven methodology, and clear exit strategy.

What is your investment universe?

The fund will work with accredited investors only, but that said, all investors looking for low risk, high return alternative investments would be suitable.

What is the business strategy of the group for the coming months?

This is clearly defined in the fund documents. In the coming months EPI will begin to lease up the priority high-graded prospects in inventory, then begin a systematic drilling program that is scheduled to produce 250 BOD (Barrils of oil per day) within 12 months.

Do you plan to launch new products, what type?

The current EPI Fund is $120 million in four closings. Once this is complete, yes, we will be launching similar additional products.

What is your management philosophy?

EPI focuses on a developmental drilling program, meaning working in proven areas where our geological expertise and experience produces a high success rate in terms of drilling commercially successful oil and gas wells. We believe in good science, careful evaluation, building high-graded prospects to add to our inventory, then developing those to critical mass of at least 1,000 BOPD production, and divesting within year 4.

How is structured the investment team? How many professionals do you have and how decisions are taken?

A combination of geologists, engineers, financial analysis, and comprehensive economic modeling allows us to decide on the best approaches, structures and deal selection.

What is the fund’s assets?

Oil and gas lease holds and producing properties. The current fund has a maximum of $120 million.

What risk management systems do you used?

All projects must meet internal risk management criteria, which is part of the 80% success rate of developmental drilling. Any prospect not capable of meeting this model is not considered. We also have a 4 to 1 ROI guideline and minimum pay-out in 24 months or less.

In what kind of environment the strategy performs better?

In the environment today in the Permian Basin. This is the optimum time and conditions are improving as the technology continues to improve. We like our economics in the $70-$100 per barrel range.  (Currently above market expectations at $95.96)

Does the fund have a capacity limit? $120 million

How was the performance so far? Expectations? Profitability for the next 12 months? Fund is just starting, but based on our past experience, we expect to reach at least 250 BOD in 12 months, which is about $500,000 per month. ROI 62%-83% per year with an annual growth rate of 42%

Invesco: Mark Armour will replace James Robertson as head of EMEA

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Invesco: Mark Armour reemplazará a James Robertson en la dirección de la región EMEA
Wikimedia CommonsPhoto: GammaCygni. Invesco: Mark Armour will replace James Robertson as head of EMEA

Invesco has announced that James I. Robertson will relinquish his duties as senior managing director and head of EMEA (which includes the UK, continental Europe and the Middle East) due to health reasons, and will retire on December 31, 2013. In an 8-K document filed with the SEC, Invesco signals that it expects Mr. Robertson will leave the Board of Directors of the company at or before his current term expires in May 2013. Mr. Robertson will work with his successor, G. Mark Armour, to ensure a smooth transition in leadership of the Company’s EMEA business.

Mr. Armour has been an executive with Invesco since September 2002 when he joined Invesco as the chief executive officer of Invesco Australia. Mr. Armour also served as the head of sales and service for Invesco’s institutional operations. Mr. Armour has served as a senior managing director and head of Invesco Institutional since January 2007. He was Chief Investment Officer for ANZ Investments and Chief Executive Officer of the National Mutual/AXA Australia Group from 1998 to 2000.

UBS Launches Global Family Office In The Americas

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UBS Launches Global Family Office In The Americas
Foto: Dilliff. UBS abre una oficina especializada en Family Offices en Nueva York

UBS announced the expansion of its Global Family Office (GFO) to the Americas region, completing the firm’s implementation of a strategy to extend its GFO business to serve clientele across Europe, Asia and the Americas. The GFO is a joint venture between UBS Investment Bank and UBS Wealth Management, focusing entirely on family offices with institutional-like profiles and requirements. With this expansion complete, UBS now offers GFO expertise in seven primary hubs: Zurich, Geneva, London, Hong Kong, Singapore, Sydney and New York.

“The expansion of the UBS GFO into the Americas marks a significant capstone to our strategy to bring our full firm to bear, globally, in support of large institutional and professional family offices around the world,” said Robert McCann, CEO of UBS Americas and CEO of UBS Wealth Management Americas. “The result is a platform that responds to the highly tailored, complex needs of our global family office clients, in all markets where we do business.”

The UBS GFO places at its core a select group of financial advisers who have experience and training in working directly with GFO clients. In addition to providing access to UBS’s experts in its Wealth Management, Investment Bank and Prime Services divisions, the GFO features the following services globally:

  • Comprehensive global services with complete transparency to the GFO’s service team, including direct contact with UBS bankers, traders, specialists and sales teams*
  • Fully customizable and consolidated real-time reporting of holdings, balances, margin and risk profiles for assets held with UBS and elsewhere
  • Access to UBS research to provide intelligence on current investment trends
  • Family advisory services, including governance frameworks, governing bodies, corporate advisory, management platforms, asset holding structures, business succession plans, a young successors program and philanthropy strategies
  • Exclusive peer network of other UBS Global Family Office clients to share knowledge and identify potential new business opportunities

 “The launch of GFO in the Americas allows us to be the only family office provider to combine institutional-level service and access with the holistic wealth management advisory services we supply across the firm,” said Juerg Zeltner, CEO of UBS Wealth Management. ”It is a powerful testament to the business strategy we have set out globally, and an important step in delivering the full breadth of our intellectual capital and resources to our clients worldwide.”

Morningstar reports estimated U.S. mutual fund asset flows through December 2012

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Morningstar reports estimated U.S. mutual fund asset flows through December 2012
Wikimedia CommonsFoto: mattbuck. Vanguard y PIMCO capturan el 61% de las suscripciones netas en Estados Unidos

Long-term open-end funds saw inflows of $243.2 billion in 2012, according to Morningstar. Money continued to flow out of actively managed stock funds and into all manner of bond funds, with yields across many fixed-income sectors either at or near all-time lows. Since the end of 2008, assets in taxable-bond funds have more than doubled, climbing from $1.1 trillion to $2.5 trillion, with approximately 65 percent of the increase attributable to net inflows. When municipal-bond funds are included, inflows for fixed-income funds have exceeded $1.0 trillion since the beginning of 2008.

Additional highlights from Morningstar’s report on mutual fund flows:

  • 2012 outflows from actively managed U.S.-stock mutual funds surpassed those seen in 2008 despite the fact that the S&P 500 was up 16 percent for the year. Even when exchange-traded funds are included, large-cap U.S.-stock funds have seen net outflows over the trailing five-year period and in each of the last four years.
  • Intermediate-term bond funds attracted the greatest inflows of any Morningstar Category for the fourth year in a row, taking in $109.9 billion in 2012. This was almost three times the inflows of $37.5 billion seen by the runner-up, short-term bond.
  • Vanguard and PIMCO captured 61 percent of net inflows in 2012, compared with 30 percent in 2011 and 46 percent in 2009.
  • DoubleLine Total Return Bond, which has a Morningstar Analyst Rating of Neutral, tallied 2012 inflows of $19.6 billion to edge out Gold-rated PIMCO Total Return, which collected $18.0 billion, for the year’s greatest open-end fund inflows. The inclusion of BOND, the ETF incarnation of PIMCO Total Return that saw inflows of $3.8 billion in 2012, would move Bill Gross into first place in terms of overall inflows.   

 

Apex wins $1 billion client following approval to service UK authorised funds

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Apex Funds Services incorpora una cartera de 1.000 millones de dólares a sus fondos administrados
Mapa con las oficinas de Apex en todo el mundo. Apex wins $1 billion client following approval to service UK authorised funds

Apex Fund Services, one of the world’s largest independent fund administration companies, announces that WAY Fund Managers, the UK provider of fund hosting services to the wealth management sector, has selected Apex to service all of its 47 funds with combined assets under management of over $1 billion.

Having received UK regulatory approvals, Apex is one of a few global fund administrators with the capability to provide services to UK managers with both UK authorised and offshore funds in the same location.

As part of a collaboration agreement, Apex and WAY Fund Services are to begin cross selling each other’s services. Apex will introduce clients to WAY Fund Managers’ platform and at the same time offer its Order Management System (OMS) and Portfolio Management System (PMS) technologies to WAY clients.

KKR Appoints Jorge Fergie to Head Brazil Efforts

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KKR today announced that Jorge Fergie is joining the firm as Managing Director to head its São Paulo, Brazil office and business development in Brazil, effective March 1, 2013.

“As one of the world’s largest economies, Brazil is an important area of growth for KKR. Jorge Fergie is a great leader for our business and we’re confident he will further enable us to find and act on good opportunities for our investors.”

In this role, Jorge will work with KKR’s global investment teams and KKR Capstone, operational improvement experts who work exclusively with our portfolio companies, to lead KKR’s investment activity in Brazil.

Henry Kravis and George Roberts, Co-Founders and Co-Chief Executive Officers of KKR, stated: “As one of the world’s largest economies, Brazil is an important area of growth for KKR. Jorge Fergie is a great leader for our business and we’re confident he will further enable us to find and act on good opportunities for our investors.”

Prior to this appointment, Mr. Fergie spent nearly 29 years at McKinsey & Company (“McKinsey”) where he was instrumental in establishing McKinsey’s business in Brazil and throughout Latin America. He is a seasoned executive who has served as an advisor to governments and leading Latin American and multinational companies, supporting them in major transformational programs, including identifying and implementing operational improvements, restructurings and privatization programs. He most recently led the Private Equity practice at McKinsey in Brazil and Latin America. Prior to that he led the Media and Telecom practices and worked in a wide variety of key sectors of the economy.

“We are very excited to have Jorge join us and work with Henrique Meirelles to continue building our business in Brazil. Jorge’s deep strategic and operational expertise and history of helping companies achieve their ambitions fits well with our investment approach,” said Alex Navab, Member of KKR and Co-head of the firm’s private equity business in the Americas. “Jorge’s appointment is an important milestone in our growth in and commitment to Brazil.”

In June, 2012, KKR appointed Henrique Meirelles, former Governor of the Central Bank of Brazil and former President of FleetBoston’s Corporate and Global Bank, as a Senior Advisor to the firm.

Henrique Meirelles commented, “Brazil continues to be fertile ground for investment opportunities. Jorge is well-respected in the business community, and I look forward to continuing to build out a high quality and differentiated investment team in Brazil with him and the rest of KKR’s global team to benefit Brazilian companies and KKR’s investors.”

Jorge Fergie added, “KKR is a pioneer of the private equity industry, and I am delighted to be joining such a world-class business. I was drawn to the firm because of its long track record of success around the globe, its philosophy of long-term, value-added investing and differentiated capabilities that will drive its long-term success in Brazil. KKR doesn’t just offer capital; it seeks to be a partner to leading local companies and entrepreneurs.”

Mr. Fergie holds a M-Sc. Degree in Industrial Engineering from Stanford University. Currently he is a member of the Executive Committee of the São Paulo Biennale.

KKR conducts business in Brazil through its subsidiary, KKR do Brasil Gestão de Investimentos e Participações Ltda.

Davos Financial Group Received International Recognition as “Best Offshore Corporate Service Provider”

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Davos Financial Group Received International Recognition as “Best Offshore Corporate Service Provider”
. Davos Financial Group Received International Recognition as “Best Offshore Corporate Service Provider”

Demonstrating strong leadership, commitment to excellence and innovation in the complex economic conditions of the markets it operates in, Davos Financial Group was awarded the “Best Offshore Corporate Services Provider – Switzerland 2012.”

“Certainly, operating in different countries not only positions us as an international financial advisory firm, but additionally allows us to provide our customers access to a wide variety of platforms and investment instruments available in the financial market today”

The New Europe Industry Awards, presented last December, aim to emphasize those organizations that achieved the highest standards in what are the most competitive sectors of their industry. By acknowledging the current pioneers they expect to offer valuable resources for the senior management, thereby ensuring that as new challenges arise, those who offer solutions are always close by. Among the companies recognized worldwide is Credit Suisse.

In that regard, David Osio, CEO of Davos Financial Group, said: “We strive daily to offer our clients and partners the highest standards in service, maintaining a strict control in the operations of Davos Financial Group’s affiliated companies, as well as the enforcement of regulations in the markets where they operate.”

This recognition has been achieved because Davos Financial Group has positioned and established itself as an excellent international consulting firm that seeks to provide its customers access to a wide variety of platforms and investment instruments present in the current financial market. This has been possible through the implementation and strict adherence to rules and regulations.

With offices in Geneva, New York, Miami, Panama City and St John’s, the companies that are part of Davos Financial Group have been working since 1993 to provide the most robust and innovative financial advisory, with the benefit of globalized presence.

“Certainly, operating in different countries not only positions us as an international financial advisory firm, but additionally allows us to provide our customers access to a wide variety of platforms and investment instruments available in the financial market today,” said David Osio.

Northern Trust Appointed by Bridgewater Associates for Hedge Fund Servicing

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Northern Trust announced today it has been appointed by Bridgewater Associates, one of the world’s largest global hedge fund managers, to independently replicate certain middle and back-office services for its approximately $140 billion in assets under management, as part of Bridgewater’s ongoing back office transformation plan.

In a role that will create approximately 100 jobs in Chicago and Stamford, Conn., Northern Trust will provide broad middle-office and back-office services including replicating various administrative processing, trade processing, valuation, real-time reporting, cash management, accounting and collateral management services.

These services will be furnished by Northern Trust independently, as well as mirroring and quality checking middle and back-office services provided by another firm. Northern Trust’s independent review and validation of results will provide Bridgewater Associates and its investors an enhanced level of oversight and controls with respect to fund administration and middle and back-office functions. The arrangement is planned to go live in 2014.

Since Northern Trust acquired hedge fund administrator Omnium from Citadel in July of 2011, the marketplace has delivered a strong response to the combination of Northern Trust’s trusted name and global scale along with industry-leading, technology-driven hedge fund administration services designed to support high volume and highly complex investment strategies.

Bridgewater Associates is a global leader in institutional portfolio management with approximately US$140 billion in assets under management, including US$75 billion in its Pure Alpha strategies (a hedge fund/GTAA/Portable alpha strategy) and US$65 billion in All Weather, a diversified beta strategy/risk parity portfolio. Bridgewater began investment operations in 1975, and is a pioneer in risk budgeting and the separation of alpha and beta, managing Portable Alpha/GTAA, Hedge Fund, Optimal Beta/Risk Parity, Currency Overlay, Global Fixed Income and Inflation-Indexed Bond mandates. Bridgewater manages these portfolios for a wide array of institutional clients globally, including public and corporate pension funds, foreign governments and central banks, university endowments and charitable foundations.

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2012, Northern Trust had assets under custody of US$4.8 trillion, and assets under investment management of US$749.7 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology.

BNY Mellon Names Judy L. Hu as Chief Marketing Officer

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BNY Mellon, the global leader in investment management and investment services, has named Judy L. Hu as chief marketing officer, effective Feb. 1, 2013. Widely recognized for her global expertise in brand-building and business-to-business marketing, she will report to R. Jeep Bryant, executive vice president for marketing and corporate affairs. Hu joins BNY Mellon from General Electric Company, where she has served as global executive director of advertising and branding since 2002.

While at GE, Hu was a key architect behind the repositioning of the company’s historic brand through campaigns including “Imagination at Work” and “ecomagination.”  Hu drove innovation across all media in key markets around the world, winning dozens of awards for effectiveness and impact.  In addition, Hu developed strategies to engage clients and communities through signature sponsorships globally.

“In recent years, BNY Mellon has significantly advanced its leadership position in investment management and investment servicing, creating a company with a powerful focus on helping investors succeed,” Bryant said.  “Judy has a proven track record of building brands that reflect the strength of the business. With her expertise and leadership, we will continue to build our brand by demonstrating our commitment to delivering excellence and to being invested in the success of all of our stakeholders.”

Hu’s 30-year  career spans the publishing, agency and corporate sectors. Her experience at advertising agency Leo Burnett took her to Hong Kong for several years, where she was responsible for a broad range of clients including United Airlines.  During Hu’s six years in leadership positions at General Motors, she created a diversity marketing team to engage minority stakeholders in the GM brand and led advertising and sponsorship initiatives.

A native of Detroit, Hu has a master’s degree in business administration from Yale University and a bachelor’s degree in English and American Literature from Harvard University.

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 $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).