Mellon opens another southern Californian office

FWR Staff

9 February 2007

Wealth firm shifts L.A.-office sales staff, portfolio team to Century City. Mellon Financial has opened a fifth Private Wealth Management office in California with its new Century City branch. The move is meant to help Mellon "accommodate the continued growth of its southern California operations," according to a press release.

Sales central

"Through this new office, we also look forward to serving our already extensive local client base," says Mellon PWM regional head David Emmes, who attributes growth in the region to a booming business climate in southern California generally. "We are pleased now to be their neighbor and are committed to continuing to provide them, and our new clients, with Mellon's world-class investment, wealth planning, and private banking services."

In the run-up to the Century City expansion, Emmes increased sales staff at Mellon PWM's Los Angeles office from seven to 13. Now most of this sales staff will be transferred to the Century City office. A team of portfolio managers will also be in residence ta the new office.

Early in December 2006 Mellon agreed to merge with the Bank of New York in exchange for about $16.5 billion in Bank of New York stock.

Pittsburgh-based Mellon has around $5.5 trillion in assets under management, administration and custody. Its PWM group is based in Boston. -FWR

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