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Rating:Little Bids Adieu to BNY Mellon Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 27, 2010

Little Bids Adieu to BNY Mellon

Reported by Armie Margaret Lee

Jon Little is moving on from BNY Asset Management. His departure means that BNY Mellon Asset Management is down to one interim head in the wake of Ron O'Hanley's move to Fidelity.

Little, who has served as interim co-head alongside Mitchell Harris, is leaving "to accept a new opportunity in the financial services industry," according to a BNY Mellon press release. The release did not identify Little's destination.

Little's exit comes as BNY Mellon is in the process of looking at internal and external candidates to fill the job that O'Hanley had.
Company Press Release
LONDON and NEW YORK, July 27 /PRNewswire-FirstCall/ -- BNY Mellon announced today that Mitchell Harris will be 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 comprehensive search for a permanent head of the asset management business, considering internal and external candidates. 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," said 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."

"With a strong leadership team across our global franchise, we continue to earn additional business from new and existing clients," said Harris. "In fact, we reported $13 billion in net long-term asset inflows during the second quarter alone. We continue to capitalize on the excellent growth prospects for our business worldwide."

As head of the Fixed Income, Cash and Currency Group, Harris oversees businesses with more than $500 billion in assets under management including Pareto, Standish Mellon Asset Management LLC, Alcentra and BNY Mellon Cash Investment Strategies. His prior roles include serving as chief executive officer of Standish and Pareto Partners. He remains the chairman of both. Prior to joining Pareto in 1993, Harris worked at Citibank for 14 years where his roles included managing the private bank business in Germany and Jersey (Channel Islands), and the London private bank for European marketing.

BNY Mellon ranks among the top 10 asset management firms in the U.S. and globally with $1 trillion in assets under management. BNY Mellon Asset Management is the umbrella organization for The Bank of New York 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, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $21.8 trillion in assets under custody and administration and $1.0 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.5 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.

All information source BNY Mellon Asset Management as at 30/06/10. This press release is qualified for issuance in the UK and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. This press release is issued by BNY Mellon Asset Management (US) and BNY Mellon Asset Management International Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Past performance is not a guide to future performance. Registered office of BNY Mellon Asset Management International: BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority.

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