BNY Mellon has promoted wealth management veteran Ridgway Powell to a new position leading a team of advisors to ultra high-net-worth families and family offices.

The new position was created in response to the increasingly complex needs of the firm’s largest high-net-worth clients, said Susan Rivers, vice president of Wealth Management Corporate Communications at BNY Mellon.

Powell, a 25-year veteran of BNY Mellon, was formerly director of investments for the wealth manager’s Family Office Services group. He reports to Donald Heberle, head of Family Wealth and International Businesses.

“Ridge is a talented manager and has highly developed investment and wealth management expertise that will add significantly to BNY Mellon’s products and services for our very largest clients,” Herberle said in a statement.

Prior to his role in the Family Office Services group, Powell served eight years as portfolio management team leader overseeing five portfolio managers and responsible for $1.2 billion in assets under management.

BNY Mellon Wealth Management is among the top 10 U.S. wealth managers with about $170 billion in private client assets and an extensive network of offices in the U.S. and abroad.