Managing director Andy Paterson has been promoted to the position in the region which includes Western Pennsylvania and Ohio. He replaces Joseph Banko, who has become executive director of market strategy for the wider region of eastern US.

Banko and Paterson will stay in Pittsburgh in their new roles and report to Timothy Tully, president of the eastern region.

Paterson has spent 11 years with BNY Mellon, latterly as managing director for Western Pennsylvania and head of the Ohio region, while Banko has been with the company for nearly 30 years.

It has also emerged that the firm has hired former Illinois state treasurer Alexi Giannoulias as senior advisor for strategic relationships in the Chicago wealth office, and is planning a string of hires there (click here to view article).

In November last year, BNY Mellon announced plans of expanding its wealth management business in the US and internationally. The statement was followed by a series of US-based hires towards the end of the year. Ron Bruder was brought in as a managing director to assist the firm’s team of investment experts in advising ultra high net worth families and family offices. The firm also appointed Susan Traver as the first president of its newly-opened Washington DC office and Penny Weeks as a regional director for private banking in New England.

BNY Mellon Wealth Management has about $170 billion in private client assets in the US.

In its investor day presentation on 14 November, the New York-headquartered firm also said it would be looking to grow investment management production and distribution. Yesterday, BNY Mellon appointed Cynthia Steer – latterly of Russell Investments - as head of manager research and investment solutions.

The US makes up around 58 per cent of global revenue for the firm’s investment management division, down from 77 per cent in 2006.