BNY Mellon Investment Management’s (BNY Mellon IM) Asia-Pacific CEO Alan Harden is set to step down by end of 2015 after a spell of five years, to spend time with his family, said Mitchell Harris president of BNY Mellon IM.
The firm has started hunt for a new CEO, according to an internal email seen by Asian Investor.
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"Over the next four months Harden will continue to oversee the Asia-Pacific team to ensure a smooth transition," Harris added.
Internally, BNY Mellon IM Asia Pacific chief operating officer Doni Shamsuddin and chief administrative officer Jane Caire are considered as most prominent names to replace Harden.
"Harden significantly built up the business and at its peak probably had about 100 staff across Hong Kong and Singapore. But that has been clipped over time," added Harris.
Harden may have been under scrutiny after BNY Mellon IM shut down its separately managed account (SMA) platform and cut staff in Asia.
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By GlobalDataHarris said: "The Asia-Pacific business has grown to over $100 billion under Harden’s leadership from $56 billion when he took over. He helped to build new businesses in the region including wealth management, which continues to grow steadily."
