Strategy

BNY Mellon to Expand US Wealth Operations

Nick Parmee 5 March 2008

BNY Mellon to Expand US Wealth Operations

The Bank of New York Mellon is planning to add at least 60 new positions in its BNY Mellon Wealth Management operations area in Pittsburgh during 2008. These positions are in information security - which manages and protects personal data for the business line’s private client relationships - and general wealth management operations: control of investment vehicles, accounting, performance measurement and reporting. These new positions will bring BNY Mellon Wealth Management’s total Pittsburgh workforce to about 600. Robert Kelly, chief executive officer of the bank, said: “We are pleased that the continued growth of several of our key businesses provides the opportunity to deliver on our promise of increasing our local staffing and brings new jobs to the Pittsburgh region.” The bank has said that an estimated 1,000-2,000 new jobs will be created in the Pittsburgh area as a result of the merger between Mellon Financial Corporation and The Bank of New York.

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