Newton Capital Management Ltd. of London, an asset management arm of Mellon Financial Corp., announced Monday that it appointed Jon Ritz senior sales executive of its U.S. business.
Mr. Ritz will develop institutional client relationships and drive Newton's U.S. growth. He is the second appointment this year by Newton to increase business in the United States. In January the firm hired Ciaran Spillane as head of its U.S. operations.
Mr. Ritz joined Mellon in 1997 and has been with Mellon Asset Management in Pittsburgh for the past five years. He had been in Mellon's strategic sales and marketing group, and before joining Mellon he was a senior relationship manager in the commercial banking division of PNC Financial Services Group Inc.
Newton had $50 billion of assets under management as of Dec. 31. Acquired by Mellon in 1998, the firm specializes in global portfolios; they account for more than 70% of its institutional mandates.
