Ex-Mellon, Laurel executive joins outsourced asset-management administrator. Market Street Advisors (MSA), a full service provider of middle and back-office administration for asset managers and sponsors, has hired separately managed account (SMA) industry veteran Jon Anderson away from Bank of New York Mellon.

Initially Anderson will focus on supporting MSA's sales and product-development initiatives.

"Jon has a wealth of experience not only in the wrap channel, but also in the sponsor, institutional and private-wealth channels," says Bevin Crodian, CEO of Market Street Advisors.

Another example

An employee of Mellon Financial before and after its recent merger with the Bank of New York, Anderson was head of operations and marketing at Mellon asset-management affiliate Laurel Capital Advisors -- at one time one of the biggest SMA managers around -- and head of investment communications for Mellon Private Wealth Management.

Earlier this year Pittsburgh-based asset manager Cookson Peirce chose MSA to provide account-processing services in support of its push in the SMA market. "A key benefit of [MSA's] service is the wide knowledge of the managed account industry that [its] team brings to the table," says Cookson Peirce's president Dan Henderson. "Jon is one more example of this."

Edison, N.J.-based MSA functions as an application service provider and a full-service outsourcer. It supports a variety of transaction types including foreign securities, asset-backed securities, options and short sales.

Anderson says that MSA "has a tightly integrated platform that powers the most complete offering on the Street -- [it knows] this space well and [serves] it with creativity and integrity." -FWR

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