Former Illinois Treasurer Giannoulias Joins BNY Mellon

Alexi Giannoulias, a former Illinois Treasurer whose 2010 Senate campaign was clouded by the failure of his family's bank, has landed a new job.

The 35-year-old has joined the Chicago office of Bank of New York Mellon Corp., where he will serve as a senior adviser for strategic relationships, the company announced Wednesday. Giannoulias' role in the newly created post will be to help attract new clients to BNY Mellon's expanding wealth-management business. The bank added $800 million of assets under management in the Chicago market this past summer when it acquired Chicago-based Talon Asset Management's wealth division.

"BNY Mellon is actively strengthening our firm's presence in Chicago.  This is the 3rd largest wealth market in the U.S. and very important to us strategically," said Michael DiMedio, president of the Chicago region, in a press release. "We believe Alexi's proven commitment in the community, experience in public service and record of leadership will help us grow."

The company is also looking for five other staffers to help fill the Chicago office.

Giannoulias, who served as the state Treasurer from 2007 to 2011, will also help BNY Mellon attract and strengthen relationships with government clients nationwide.

Giannoulias' family owned the $1.1 billion-asset Broadway Bank in Chicago and he began his career there before diving into politics. Broadway failed in April 2010 following losses on construction loans and its collapse was mentioned in political ads supporting Mark Kirk, a Republican congressman who eventually beat out Giannoulias, a Democrat, for the Senate seat once held by President Obama.

Since losing the race and vacating his post as treasurer, Giannoulias has served as an adjunct professor of political science at Northwestern University.