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The wealth management unit of Bank of New York Mellon is increasing its sales force by 50%, adding private bankers for affluent customers and has hired an executive away from Capital One.
December 9 -
BNY Mellon Asset Management has selected a data management platform by financial information services company Markit.
January 7 -
The Federal Reserve released Bank of New York Mellon (BK) from a regulatory action requiring it to tighten up its internal controls.
October 22
Bank of New York Mellon (BK) has agreed to take full ownership of HedgeMark International.
BNY Mellon had owned a 35% stake in the company, which assists in the structuring, oversight and risk monitoring of hedge funds, specifically single investor funds. Terms of the complete acquisition were not disclosed.
Samir Pandiri, chief executive of asset servicing at BNY Mellon, said the deal allows the company to set an industry benchmark on risk and transparency across a client's entire portfolio.
The transaction is expected to close in the second quarter. HedgeMark's founder and CEO, Ken Phillips, will retire when the deal closes. Andrew Lapkin, HedgeMark's president, will become CEO.
BNY Mellon also announced that Jeffrey Goldstein, an executive at private-equity firm Hellman & Friedman, will join its board. Previously, Goldstein was a former Under Secretary of the Treasury Department and a former World Bank chief financial officer.
