BNY Mellon has opened a wealth management office in San Diego as part of the firm’s strategy to strengthen its presence in the Southern California wealth market.

The new office will be led by Paul Thiel, senior director for business development, who will report to Southern California regional president Shannon Kennedy.

Last year, BNY Melon has made 25 key hires including portfolio management, business development and private banking employees serving Los Angeles and Orange and San Diego Counties.

Thiel said: "With the establishment of our San Diego office, BNY Mellon Wealth Management is solidifying its presence throughout Southern California. It represents one of the top wealth markets in the U.S. and one of the fastest-growing regions for our business. We have six employees dedicated to San Diego County and we plan to hire an additional private banker this year."

BNY Mellon Wealth Management approximately has US$180 billion in private client assets, as of 30 September 2013.