BNY Mellon has named Curtis Arledge as vice chairman of the corporation and CEO of BNY Mellon Asset Management. He will report to Robert Kelly, chairman and CEO of the corporation.
Mitchell Harris, who is serving as interim head of the asset management business, will continue in his role as chairman of BNY Mellon Asset Management’s fixed income, cash and currency group after Mr Arledge joins the firm and will report to him.
It is expected that Mr Arledge will join BNY Mellon in the fourth quarter of 2010. He will also have executive leadership responsibility for the company’s wealth management business. Lawrence Hughes, CEO of BNY Mellon Wealth Management, will report to him.
Mr Arledge was the chief investment officer for BlackRock’s fundamental fixed income portfolios. He has also served as co-head of US fixed income at the firm and brings more than two decades of asset management and investment banking experience and leadership to BNY Mellon.
Prior to joining BlackRock in 2008, Mr Arledge held several leadership roles at Wachovia from 1996-2008. He was the global head of the fixed income division and a member of the corporate and investment bank’s executive and risk/return committees.
Mr Kelly said: “We are delighted that Curtis is joining us at a time when our asset and wealth management franchise is growing, fueled by an unrelenting focus on investment performance and superb client service by our team worldwide. Mitchell has played and continues to play a critical role in creating the momentum we enjoy today.”