BNY Mellon Wealth Management is beefing up its staff in Miami. Michael Cabanas, a former managing director at Fiduciary Trust International, joined the wealth managers Miami office as senior director. He will be responsible for sales in the firms Southeast US region.
Prior to Fiduciary Trust International, where he served for nearly seven years, Cabanas was a private banker with JP Morgan, according to firms announcement released today.
The new hire is part of the firms effort to strengthen its presence in Florida, it said. Last year, BNY Mellon hired an 11-year veteran of Northern Trust senior director in the firms Naples office and added two senior professionals to its Tampa office.
Separately, BNY Mellon also announced hiring a senior portfolio manager in Philadelphia. McBee Butcher Jr., a 20-year industry veteran, will serve the investment management and wealth planning needs of high-net-worth clients, the company said. Butcher most recently served as a senior portfolio manager at McCabe Capital Managers, Ltd., and a vice president at Drexel Morgan & Co.
BNY Mellon Wealth Management has more than $179 billion in private client assets and an international network of offices.