BNY Mellon Wealth Management has appointed Donald Heberle as its new CEO, replacing Lawrence Hughes.
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Hughes, current CEO, is set to retire from his role on 30 June 2015. He will continue in an advisory position within BNY Mellon Investment Management, having served 24 years with the firm.
In the new role, Heberle will be based in New York, where he will be tasked with helping direct the long-term growth and expansion strategy that the wealth management leadership team has been driving for the last couple of years.
Speaking of his new role, Heberle said: "BNY Mellon is an institution with a rich history and a bright future, and I am honored to have the opportunity to lead one of its key businesses.
"I look forward to working with my colleagues across both Wealth Management and the rest of Investment Management on strategic initiatives to expand the business, while delivering innovative solutions to serve existing clients and attract new ones."
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By GlobalDataHeberle has held various key leadership roles at BNY Mellon, where he joined in 1997.
He serves as executive director of client advice and international wealth management, which makes him responsible for managing the firm’s international wealth management business, its family wealth advisory and wealth and estate strategist groups and client service delivery strategy.
Earlier, he also served as the firm’s executive director for the family office and international wealth management businesses, director of investment strategy for private wealth management group, as well as developed and implemented tax-managed equity investment process.
