Hanneke Smits has been appointed chief executive officer of BNY Mellon Investment Management as Mitchell Harris is set to retire later this year.
BNY Mellon announced today (July 7) Mr Harris, who has been at the helm of BNY Mellon’s investment management arm since 2016, would retire in October this year and that Ms Smits would take over as the top boss.
Ms Smits has been chief executive of Newton IM, an investment management subsidiary of BNY Mellon, for four years and is a board member of the Investment Association and a non-executive director at the Bank of England.
BNY Mellon said Catherine Keating would continue her role as chief executive officer of BNY Mellon Wealth Management and that both Ms Smits and Ms Keating would report to Todd Gibbons, CEO of BNY Mellon. Ms Smits will also join the executive committee.
Mr Gibbons said: “Mitchell has been instrumental in driving our investment management business over the last four years as CEO and we wish him all the best in retirement.
“During a period of tremendous change in the investment landscape, he helped reposition our multi-boutique model and launch new investment capabilities, leaving us well positioned to meet the evolving investment needs of our clients.”
Mr Gibbons added he was “delighted” to elevate Ms Smits to the chief executive role, saying she had spearheaded Newton IM’s momentum and client-centric culture and he was looking forward to her leadership within BNY Mellon IM.
Ms Smits said: “I am deeply honoured to serve as chief executive of BNY Mellon IM. We have made great progress in building a diversified investment portfolio to help our clients achieve their investment goals.
“We will build on this strong foundation to continue to drive performance and innovation across our investment products, while also serving as a trusted partner for our clients in today's rapidly changing investment environment.”
Ms Smits will continue as chief executive of Newton IM until October 1 as the search is underway for her replacement.
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