BNY Mellon Wealth Management has named Yolanda Plaza-Charres to a newly created position as sales director for Latin America, the firm announced Tuesday. Plaza-Charres will be responsible for expanding BNY Mellon’s services to high-net-worth clients throughout Latin America, while supporting other lines of business there, BNY Mellon said.
In a statement, Isaac Barrocas, the Latin America region head for the firm’s International Wealth Management group, noted that BNY Mellon would benefit from Plaza-Charres’ energy and expertise as the company prepared to serve new clients in the region. He also noted that cross-border business—valued at about $7 billion globally—is expected to grow at about 7% per year over the next five years.
Plaza-Charres was formerly the director of BlackRock’s private banking channel where she developed and executed a successful strategy for growing market share in an underperforming sales territory, BNY Mellon said in a statement. She has 20 years of experience and “deep knowledge of the asset management business,” BNY said.
The appointment comes on the heels of the opening last week of BNY Mellon’s first wealth management office in the Cayman Islands. The new office was part of an effort to expand the firm’s global capabilities to serve international clients, BNY Mellon said.
BNY Mellon is also building its wealth management business domestically. Last week, it announced the promotion of Kevin Rogers, a managing director, to the position of family wealth advisor based in New York. Rogers’ appointment was the latest in a string of promotions and new hires to bolster the firm’s team of wealth advisors to ultra high-net-worth clients. Ridgway Powell was promoted in November to lead the team. And since then, seven advisors, including Rogers, have been added to the team.
Margarida Correia writes for Bank Investment Consultant.