BNY Mellon has announced that there will be change at the top of its wealth management business at the end of next month.

Donald Heberle is to succeed Lawrence Hughes as chief executive of BNY Mellon Wealth Management on June 30.

After 24 years at the company, Hughes has decided to retire from his CEO role, BNY Mellon said, but will continue working at the firm in an advisory role within the investment management unit. 

Click here for an interview with Hughes when the firm announced its strategic wealth management expansion in 2013.

Heberle – who joined BNY Mellon in 1997 – will be based in New York and continue to direct the long-term growth and expansion strategy that the wealth management leadership team has been driving for the past two years.

He is currently executive director of client advice and international wealth management, a role in which he also oversees the firm's family wealth advisory, and wealth and estate strategist groups.

In previous roles he was executive director for the family office and international wealth management businesses; director of investment strategy for private wealth management; and he also developed the firm's tax-managed equity investment process. 

BNY Mellon Wealth Management has over $194 billion in private client assets, as of March 31, 2015.