- November 29, 2007 - Pershing Adds New Tranche of Funds to Nexus
Bank of New York Mellon subsidiary Pershing has added Baring Asset Management, Henderson Global Investors, Neptune Investment Management, Scottish Widows Investment Partnership and T. Bailey's mutual funds to its Nexus Funds offering, which is fully integrated with its Nexus platform.
The platform aims to provide private client wealth managers, life companies, building societies and independent financial advisors with a single access point to buy and sell a variety of global funds in addition to all major financial instruments including equities, fixed income and foreign exchange.
- November 22, 2007 - BNY Mellon Announces China JV
Bank of New York Mellon has agreed to a joint venture with a Chinese asset management firm.
BNY Mellon Western Fund Management will manage domestic Chinese securities, but is expected to develop additional products.
Jon Little, a vice-chairman for BNY Mellon Asset Management, said the long-term goal for the venture with Chinese asset management firm Western Securities is to develop institutional business in the region.
- November 20, 2007 - BoNY Mellon Wealth Management Appoints Head of Banking
The Bank of New York Mellon Corporation has appointed Bill Sappington as heading of national banking for BNY Mellon Wealth Management. He will be based in New York City and report to David Lamere, chief executive officer.
In this newly created role, Mr Sappington will lead the expansion and implementation and delivery of banking services to private clients.
- November 19, 2007 - Asset Management M&A Reaches Global Peak
Sales of investment management companies worldwide this year have eclipsed previous records even amid turbulent capital markets, and M&A activity is expected to stay strong in 2008, driven by strategy and necessity.
Through to mid-November 2007, buyers of asset management firms spent more than $46. 7 billion in 208 transactions worldwide, according to preliminary data from New York-based Jefferies Putnam Lovell.
- November 14, 2007 - BoNY Mellon Acquires Brazilian Asset Manager
The Bank of New York Mellon is to acquire Rio de Janeiro-based asset manager ARX Capital Management for an undisclosed amount.
The Brazilian company was founded in 2001 and has around $2. 6 billion in assets under management in 20 equity and hedge funds.
- November 7, 2007 - Pershing Upgrades Funds Platform
Bank of New York Mellon subsidiary Pershing has added Aberdeen Asset Management, M&G Investments, Martin Currie and SVM Asset Management's mutual funds to its Nexus Funds offering, which is fully integrated with its Nexus platform.
The platform aims to provide private client wealth managers, life companies, building societies and independent financial advisors with a single access point to buy and sell a variety of global funds in addition to all major financial instruments including equities, fixed income and foreign exchange.
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- November 5, 2007 - Executive Moves October 2007
UK
HSBC has appointed Nick May as managing director and chief operating officer of HSBC Private Bank in the UK. Mr May joined HSBC Private Bank from Barclays three years ago, holding a variety of roles across the group before joining HSBC Private Bank UK as director of investment business and then deputy head of the wealth and investment advisory group.
Nigel Webber has been appointed chief executive of HSBC Alternative Investments, the investment bank’s hedge fund-of-funds division, which has about $5.
- October 31, 2007 - BoA Builds Advisor Force with Varying Backgrounds
Bank of America’s Private Bank/US Trust has poached private client advisors from rivals including Bank of New York Mellon Corporation and SunTrust Mortgage, as well as from industries outside of finance, to build out its client facing teams in Connecticut and South Carolina on the east coast of the US.
Former Bank of New York Mellon MD Patricia McDermott was appointed city executive and private client advisor in Westport, Connecticut.
Testament to the demand for private client talent in the US, the firm tapped Robert Haskins, former vice president of sales for manufacturing company, .
- October 26, 2007 - Asia, Trade Finance are Key Money Laundering Concerns - Survey
Asia is the region currently experiencing the greatest increase in money laundering risk and trade finance is the next major area of expected regulatory focus, according to a survey of compliance officers by US risk and compliance specialist Fortent.
The survey cited Asia as region leading growth in money laundering risk. Among respondents at institutions with global operations, 30 per cent identified Asia as the region experiencing the biggest increase in AML risk.
- October 19, 2007 - Major Appointment at Ambitious UK Wealth Manager
UK-based Heartwood Wealth Management is bringing Guy Hudson to its board early in 2008. He will initially take responsibility for all intermediary relationships, distribution strategy, marketing and product development.
Mr Hudson joins from Bank of New York Mellon Asset Management International where he was responsible for international distribution, also serving as chief distribution officer for its JV WestLB Mellon Asset Management.
