MAY 22, 2013 3:52pm ET

BNY Mellon Continues to Expand

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BNY Mellon Wealth Management is rolling out a two-year recruiting campaign that aims to double its wealth management sales force and plans to add private bankers and mortgage bankers, portfolio managers and wealth strategists.

The move is in line with the firm’s growth strategy four years in the making, executives said. In the past four years BNY Mellon has grown its footprint “both organically and through acquisitions” to more than $188 billion in client assets under management as of March 31.

Despite the sharp economic downturn of 2008 BNY Mellon acquired two firms based in Toronto and Chicago, opened new offices in Dallas, Washington and the Cayman Islands, and added two new offices in Florida.

The firm’s intention, according to its CEO Larry Hughes, is to open additional offices in the U.S., build on the expansion efforts of recent years “and continue to make headway in key global markets as well."

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