Last updated: 11:32 / Thursday, 23 May 2013
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BNY Mellon Plans to Increase its Wealth Management Sales Force by 50%

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BNY Mellon Plans to Increase its Wealth Management Sales Force by 50%
  • In the past four years, BNY Mellon Wealth Management has grown its footprint both organically and through acquisitions.
  • With this new initiative, the firm plans to strengthen the sales teams in its current locations and establish offices in other key wealth markets.

BNY Mellon 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.

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.

"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."

 

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