Mellon Financial Corporation has appointed Robert Penney as president of its Private Wealth Management group's new Connecticut region.

Mellon Financial Corporation has appointed Robert Penney as president of its Private Wealth Management group's new Connecticut region and will head the group's sales, portfolio management and private banking efforts throughout the state. Mr Penney will reports to Vicary Graham, Private Wealth regional president for Boston at Mellon. He was most recently managing director and sales manager for US Trust in Connecticut. Joining Mr Penney, also from US Trust, as managing director is Paul Tracey, who will be responsible for private client portfolios. From 2000 to 2005, the number of Hartford County Connecticut households with more than $1 million in investable assets grew by more than 40 per cent, according to Mellon.