BNY Mellon has appointed Lawrence Hughes as new CEO of BNY Mellon Wealth Management. He will report to Robert Kelly, chairman and CEO of BNY Mellon.

Mr Hughes has been serving as president of US markets for BNY Mellon Wealth Management, responsible for all client-related and sales activities for the company’s wealth management business. He has been with the company for 19 years, serving in a variety of increasingly senior roles, including COO of Mellon’s private wealth management group and executive director for BNY Mellon wealth management’s eastern US markets.

Mr Hughes replaces David Lamere who has announced his resignation from the company.

Mr Kelly said: "Larry’s appointment ensures the continuation of a successful growth strategy that has resulted in 17 consecutive quarters of positive long-term asset growth. He and the experienced leadership team across the wealth management organization will ensure outstanding continuity for our clients and our employees, Larry and Dave have worked together to craft a winning strategy for the business and I have great confidence in Larry’s ability to lead the execution of our growth plans.

“I want to thank Dave Lamere for his outstanding 27-year career at our company, his relentless commitment to client service excellence and his many contributions to our success."