BNY Mellon, an investment management and investment services provider, has promoted Donald J. Heberle to be the new CEO of BNY Mellon Wealth Management, succeeding current CEO Lawrence Hughes who is retiring on June 30, officials say.
Hughes, who is leaving after 24 years with BNY Mellon, will continue with BNY Mellon in an advisory role within BNY Mellon Investment Management, officials say.
BNY Mellon officials say Heberle will be based in New York where he will “continue to direct the long-term growth and expansion strategy that the Wealth Management leadership team has been driving for the past two years.”
Since he joined BNY Mellon in 1997, Heberle has served in several key leadership roles, officials say. In his role as executive director of client advice and international wealth management, Heberle oversees the firm’s international wealth management business, its family wealth advisory and wealth and estate strategist groups and client service delivery strategy.
Officials add that Heberle has also served as executive director for the family office and international wealth management businesses; was director of investment strategy for Mellon’s private wealth management group; and developed and implemented the firm’s tax-managed equity investment process.
“I look forward to continued growth under Don’s leadership and am also very pleased that Larry is willing to serve BNY Mellon in an advisory role,” says Curtis Arledge, vice chairman of BNY Mellon and CEO of Investment Management, in a prepared statement.
“It has been a privilege working with everyone at BNY Mellon over the past two and a half decades, and under Don Heberle’s capable leadership, I am confident that Wealth Management will continue moving forward with great momentum,” Hughes said in a statement.
BNY Mellon Wealth Management has more than $194 billion in private client assets, as of March 31, 2015, and an extensive network of offices in the U.S. and internationally, officials say. BNY Mellon Wealth Management, which provides investment management, custody, wealth and estate planning and private banking services, conducts business through various operating subsidiaries of The Bank of New York Mellon Corp.
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