Welcome to Financial Advisor IQ

BNY Mellon Names New Head of Wealth Management

June 12, 2018

BNY Mellon has recruited wealth and asset management veteran Catherine Keating to head its wealth management unit, Bloomberg writes.

Keating had spent close to 20 years at JPMorgan Chase & Co., serving as the company’s head of investment management for the Americas as well as the CEO of its U.S. Private Bank, among other roles, according to the news service. But she comes to BNY Mellon, whose wealth unit managed $246 billion as of the end of March, from Commonfund, where she had been CEO since February 2015, according to Bloomberg. Commonfund manages $25 billion for foundations, endowments and public pensions, the news service writes.

Don Heberle, BNY Mellon’s previous head of wealth management, left the firm in March to take on a similar role at PNC Financial Services, according to Bloomberg. Mitchell Harris, CEO of BNY Mellon Investment Management, had been overseeing the unit since then, the news service writes. Keating will report to Harris, according to Bloomberg.

“Catherine is a seasoned CEO with a strong track record in leading wealth management and asset management organizations,” Harris said, according to the news service.

Commonfund, meanwhile, is replacing Keating with Mark Anson, its chief investment officer, according to a statement from the firm cited by Bloomberg. In addition, Commonfund named Deborah Spalding and Kristofer Kwait as deputy CIOs, the news service writes.

  • To read the Bloomberg article cited in this story, click here.