This week in personnel announcements and new hires, BNY Mellon announced organizational changes; Hennion & Walsh announced the addition of Scott Ferrette and Michael Sullivan; Paul Mahan rejoined Commonwealth Financial; Commonfund announced that Verne Sedlacek would step down as president and CEO; and ProcessUnity hired Sean Cronin.
Also, RCS Capital welcomed Christopher Mee; and Aperio Group announced new roles for Patrick Geddes and Ran Lesham.
BNY Mellon Announces Organizational Changes
BNY Mellon has announced several organizational changes. Curtis Arledge, currently vice chairman and CEO of investment management, will add to his responsibilities the oversight for a newly formed BNY Mellon markets group, effective immediately. The new group will bring together global markets, global collateral services and prime services. Kurt Woetzel, head of global collateral services, has been named president of the markets group, effective immediately, and will report to Arledge. Mitchell Harris will continue to serve as president of investment management and report to Arledge. Arledge continues to report to Gerald Hassell, BNY Mellon chairman and CEO.
Also, Brian Shea, president of investment services, will become vice chairman and CEO of investment services, in addition to his role as head of client service delivery and client technology solutions. Shea, whose appointment is also effective immediately, will report to Hassell. Karen Peetz will continue as president of BNY Mellon, leading global client management, regional management and treasury services. Peetz reports to Hassell.
In addition, Tim Keaney, vice chairman and CEO of investment services, announced he will be leaving the company to pursue other opportunities on Sept. 30, and Brian Rogan, vice chairman and chief risk officer, and Art Certosimo, CEO of global markets, announced they plan to retire at year end.
Arledge joined BNY Mellon in November 2010. Prior to that, he was chief investment officer for fundamental fixed income portfolios at BlackRock, Inc. He joined BlackRock from Wachovia Corp., where he was the global head of the fixed income division of the bank’s corporate and investment banking group. He spent more than a decade at Wachovia.
Shea joined Pershing, a BNY Mellon company, in 1983 and progressed through a series of positions of increasing responsibility, ultimately becoming CEO.
Sarr Named Global Head of ESG Investing at North Trust Asset Management
Mamadou-Abou Sarr has been named global head of environmental, social and governance (ESG) investing at Northern Trust Asset Management, a newly created role designed to meet increasing demand for responsible investing strategies in markets worldwide.
As global head of ESG-Asset Management, Sarr will lead ESG innovation and product development across Northern Trust’s array of asset class capabilities. Building on the company’s success with ESG strategies in passive equity internationally, he will focus on expanding into new opportunities for ESG growth in the global institutional and wealth management markets.
Based in Abu-Dhabi, Sarr will report to Wayne Bowers, head of Asset Management-EMEA & APAC, and will work closely with the Global Equity Strategist team, providing thought leadership and comprehensive investment solutions across the spectrum of equity, including Northern Trust’s growing factor-based Engineered Equity solutions.
Northern Trust has approximately $58.4 billion in assets under management across a globally diverse set of ESG screened strategies and recently launched three innovative ESG funds in Europe, which have reached the $1 billion mark collectively.
Hennion & Walsh Welcome Ferrette and Sullivan
Hennion & Walsh has announced the addition of Scott Ferrette and Michael Sullivan as external wholesalers for its SmartTrust UIT business on the West Coast. They will serve as regional vice presidents and report to Dave D’Arcangelo, national sales director.
Ferrette was formerly at SC Distributors, where he worked since January 2011. Most recently he served as regional vice president covering the northeast region of the U.S. Prior to that, he was a senior internal wholesaler with Metropolitan Life Insurance Distribution Co.
Sullivan has been in the industry for 14 years, most recently as an external wholesaler covering the western region for North Peak Asset Management. Prior to that, he was an external wholesaler for Atel Capital Group and Realty Income Corp.
Mahan Rejoins Commonwealth Financial