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BNY Mellon Wealth Management Adds Multi-Manager Strategies
Devina Shah
21 October 2010
BNY Mellon Wealth Management has launched two new multi-manager strategies, an opportunistic strategy and a tax-sensitive strategy aimed at growing high net worth clients’ assets in what the firm calls “the most critical decade.” “The current market environment, while extremely unsettling, is also creating opportunities for potential reward in the years ahead,” said chief investment officer Leo Grohowski. The opportunistic multi-manager strategy is composed of large cap equities sub-advised by multiple managers affiliated with BNY Mellon’s wealth management unit. The tax-sensitive multi-manager strategy aims to provide a diversified multi-advisor large cap solution that is managed in a tax-efficient way. It is intended to allow investors to benefit from the stock selection skills of several managers while having a portfolio manager with a tax efficiency focus. BNY Mellon Wealth Management has about $161 billion in private client assets. Overall, BNY Mellon has $1.14 trillion in assets under management.