BNY Mellon Wealth Management is bulking up its resources in Southern California where the firm says business is booming. The company announced Tuesday that it has added three senior portfolio managers and two senior directors for business development to its Southern California team.
"The addition of these five new positions crowns a year of very strong growth for our Southern California region, which is one of our firm's fastest growing markets," Larry Miles, regional president for Los Angeles, said in a statement.
Staff increased by 10% in the past year, while assets under management in the region grew by more than 20% year over year, according BNY Mellon.
Tiffany Barbara, Bob Bernstein and Steven Mills joined BNY Mellon Wealth Management as senior portfolio managers. Barbara was previously a principal and senior client account manager at Bessemer Trust where she oversaw a team of client account managers and assets totaling more than $1 billion. Mills also joined from Bessemer Trust where as senior vice president and senior client account manager he supervised non-profit and family relationships valued at more than $600 million. Bernstein was chief investment officer of Four Corners Capital Management and was one of three managing principals who built a $4.5 billion asset management business, according to BNY Mellon.
Rehan Chaudhry and Grace Russak joined the firm as senior directors for business development. Prior to joining BNY Mellon, Chaudhry served in progressively responsible positions with JP Morgan culminating with responsibility for more than 50 high-net-worth client relationships. Russak previously served for 15 years with the Whittier Trust company, most recently as a senior vice president and director of the company's advisory services department and the art advisory services group.
All but Mills are based in the firm's Century City office and report to Miles. Mills, who is based in Newport Beach, reports to Ben McGloin, senior director of portfolio management.
BNY Mellon has more than $171 billion in private client assets and an international network of offices.