WestLB Mellon Asset Management was formed in early 2006 as a 50:50 joint venture between BNY Mellon and Portigon.
The company has over 170 employees and more than EUR25 billion in assets under management.
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Werner Taiber, who was most recently a member of the managing board of Portigon, will be the new CEO.
Taiber will report to Harris and Curtis Arledge, CEO of BNY Mellon Investment Management.
Commenting on the move, Mitchell Harris, president of BNY Mellon Investment Management, said, "The completion of this transaction is an important milestone for us. Germany has one of the most sophisticated investment industries globally, and is a key strategic priority for BNY Mellon. Acquiring the remaining 50% of our joint venture is a natural transition for us."
The financial terms of the transaction have not been disclosed.
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