Friday, March 04, 2011
Two BNY Mellon Asset Management Units See Changes at the Top
Reported by Armie Margaret Lee
Two of BNY Mellon Asset Management's
affiliated investment management firms have new leaders.
BNY Mellon promoted Gabriela Parcella from COO to CEO of Mellon Capital Management
Corporation, which sub-advises Dreyfus and Vanguard mutual funds. The current CEO,
Charlie Jacklin, will become Mellon Capital's chairman and devote his time on investment strategies
and client relationships. The current chairman, Tom Loeb, will join Bill Fouse, his Mellon Capital co-founder,
in the role of chairman emeritus.
The Boston Company Asset Management brought in Bart Grenier from Deutsche Asset
Management as chairman and CEO. Grenier, who earlier in his career worked at Fidelity for
14 years, takes over from David Cameron, who will assume a senior role at BNY Mellon Asset Management.
TBCAM sub-advises Dreyfus mutual funds.
BNY Mellon Asset Management has a total of 20 affiliated investment management firms.
Company Press Release
BNY Mellon Asset Management Announces New Leadership at Mellon Capital & The Boston Company
Current CEOs to assume senior roles
LONDON and NEW YORK, March 3, 2011 — BNY Mellon Asset Management has announced the appointments of Gabriela Parcella to chief executive officer of Mellon Capital Management Corporation, and Bart Grenier to chairman and chief executive officer of The Boston Company Asset Management LLC (TBCAM). They will both join BNY Mellon Asset Management's executive committee.
"I am excited to announce new leaders at two of the investment firms within BNY Mellon Asset Management, an extremely talented individual promoted internally in Gabby, and an industry leader newly recruited to our company in Bart," said Curtis Arledge, CEO of BNY Mellon Asset Management.
"Gabby's promotion is a natural transition in recognition of her exceptional leadership at Mellon Capital where she has worked closely with Charlie Jacklin and the rest of the team. Bart's background blends years of demonstrated investment expertise with a deep understanding of what clients need from their investment manager. Importantly each of these talented and insightful individuals will become valuable contributors to the broader mission of BNY Mellon Asset Management," he continued.
Parcella joined Mellon Capital in 1997 and became chief operating officer in 2008. During her tenure at the firm, she has ensured a focus on risk management, fiduciary integrity and management capabilities. Charlie Jacklin will become chairman of Mellon Capital and will focus his time on investment strategies and client relationships. Tom Loeb, currently chairman, will join his Mellon Capital co-founder, Bill Fouse, in the role of chairman emeritus.
Commenting on her appointment, Parcella said: "We have a tremendous opportunity. Mellon Capital had a strong end to 2010 and is well positioned for 2011. With robust investment strategies and strong relationships with our clients, we will continue our focus on providing long term positive returns and world class client service."
Grenier joins TBCAM from Deutsche Asset Management where he was Chief Investment Officer and Global Head of Institutional Investments at DB Advisors. During his tenure in this role, he managed a large global investment organization, spanning equities, fixed income, cash management, and alternatives. Prior to Deutsche Asset Management, Grenier spent 14 years at Fidelity Management & Research Company (FMR) where he was a Senior Vice President, overseeing a $500 billion investment platform. At FMR, he also served as the Director of Equity Research, Director of High Income Research, and President of Fidelity Ventures. Grenier will join TBCAM on June 1st, and will work with David Cameron on a smooth transition of responsibilities. Cameron will assume a senior role within BNY Mellon Asset Management where he will assist the leadership team with its firm-wide strategic agenda.
Grenier said: "TBCAM's operating platform is strong and I see excellent opportunities for growth. I look forward to partnering with clients to meet their investment objectives. With a positive investment outlook, this is an exciting time to be joining this global asset management franchise."
Arledge concluded: "I would like to thank Charlie and Dave for their exceptional leadership at Mellon Capital and TBCAM. They have steered their businesses through a challenging investment environment, and as a testament to their success we are delighted that they will still be actively involved at BNY Mellon Asset Management. At the same time, the elevation of Charlie and Dave to new roles gives us a terrific opportunity to place highly talented people in new leadership positions."
The changes at Mellon Capital are effective immediately.
Founded in 1983 by innovators in the investment management field, Mellon Capital Management Corporation applies a disciplined and analytical approach to global investment management strategies and has $208 billion in assets under management, including assets managed by dual officers of Mellon Capital Management Corporation, The Bank of New York Mellon and The Dreyfus Corporation, and $9.2 billion in overlay strategies. Additional information about Mellon Capital is available at www.mcm.com. It is part of BNY Mellon Asset Management, one of the world's largest asset managers.
The Boston Company Asset Management, LLC, a BNY Mellon Asset Management investment firm, manages $39 billion in assets for more than 450 clients worldwide. The firm specializes in providing a broad range of actively managed U.S., global, emerging markets and alternative products with a fundamentally based approach to security research implemented in a consistent and disciplined fashion. It provides investment management services for corporate, public, mutual funds and Taft-Hartley retirement plans, endowments and foundations. The firm also includes assets managed by The Boston Company personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon.
BNY Mellon Asset Management is the 11th largest asset management company globally and the parent organization for BNY 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 $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 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.
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