BNY Mellon has appointed Mitchell Harris as the sole head of the company’s asset management business on an interim basis. Mr Harris will also continue in his role as chairman of the fixed income, cash and currency group of BNY Mellon Asset Management.

Jon Little, who had been serving as interim co-head of the business with Mr Harris, has decided to leave to accept a new opportunity in the financial services industry.

As head of the fixed income, cash and currency group, Mr Harris oversees businesses with more than $500bn in assets under management including Pareto, Standish Mellon Asset Management, Alcentra and BNY Mellon Cash Investment Strategies. His prior roles include serving as CEO of Standish and Pareto Partners. He will remain as the chairman of both the firms.

Prior to joining Pareto in 1993, Mr Harris worked at Citibank for 14 years where his roles included managing the private bank business in Germany and Jersey (Channel Islands), and the London private bank for European marketing.

Robert Kelly, chairman and CEO of BNY Mellon, said: “Our asset management business has great management strength across our boutiques. The asset management leadership team has demonstrated resilience through challenging market cycles, continuing to provide our clients with strong investment performance and superior service around the globe.

“I’m pleased that we have the benefit of Mitchell’s outstanding leadership during this transition period and we wish Jon the best in his new role.”