As it continues to expand rapidly in Florida, Bank of New York Mellon Wealth Management announced that it plans to double its office space in Miami.
BNY Mellon Wealth Management in Miami announced last week that it opened a new office at one of the city’s new office parks.
“We credit a lot of our success to the industry-leading client satisfaction and retention rates we enjoy year after year,” said Craig Sutherland, the Miami-based president of BNY Mellon’s Southeast region. “Our need for larger offices reflects the tremendous growth we’ve experienced, despite very difficult market conditions not only in Florida, but globally.”
Year-over-year, sales in Florida have increased 20% for BNY Mellon, Sutherland said. He has hired several private bankers, portfolio managers and sales people in the past year and plans to add more staff in the coming months.
BNY Mellon Wealth management entered the Florida market with a single office in 1997. Since then, it has grown its portfolio almost fifteenfold, opened six additional offices and expanded its staff to more than 80 wealth management professionals.
In additional to Miami, the company has wealth management offices in Florida in Tampa, Naples, Fort Lauderdale, West Palm Beach and Boca Raton.
“BNY Mellon is very involved in the Florida community and supports dozens of service organizations and nonprofits,” Sutherland said. “In addition to our strong local commitment, we are part of a global financial powerhouse that allows us to provide our clients with a sophisticated array of capabilities.”