BNY Mellon Wealth is stepping up its presence in Cleveland, the wealth manager announced Monday.
In response to growing business in the Ohio market, the firm moved its Cleveland office to a larger space that will accommodate more clients and more staff. BNY Mellon plans to add a sales director to the office this year and boost its Ohio-based staff by 13% by 2015, according to Ron Ambrogio, regional president for the firm in Ohio.
BNY Mellon has achieved significant growth in Ohio over the past three years. Our assets under management are up by 27%, quite an accomplishment for the size of the Ohio market, Ambrogio said in a statement.
BNY Mellon currently employs 23 in Ohio, including its smaller Columbus office. Both the Columbus and Cleveland office locations opened in 1999.
The office expansion and anticipated hires are part of the firms campaign to increase its nationwide sales force and add private and mortgage bankers and other professionals in top U.S. wealth markets. At the end of the second quarter, BNY Mellon had hired 15 of the 50 sales directors it planned to add to the advisor force by the end of 2014.