BNY Mellon Wealth Management has added Timothy Barker as a family wealth advisor to its growing team of advisors to ultra high-net-worth families and family offices, the firm announced on Thursday. Barker reports to Ridgeway Powell, who was promoted in November to lead the team.
Barker was formerly a senior managing director of Family Wealth Advisors for First Republic Wealth Advisors, advising client portfolios of over $500 million. He also worked for U.S. Trust Company as managing director for its Investment Products Group as well as chief investment officer for its Family Wealth Management Group, where he was responsible for many high-net-worth family relationships with more than $1 billion in assets under advisement.
Barker’s appointment is the latest in a string of promotions and new hires to strengthen the firm’s team of wealth advisors for ultra high-net-worth clients. Since Powell’s promotion, five advisors have been added to the team, including Barker, a company spokesperson said.
Separately, two high-level announcements have come in the past 24 hours. Those moves include the announcement of the promotion of managing director Andy Paterson to president for the firm’s central region. Paterson, an 11-year veteran of BNY Mellon, succeeds Joseph Banko, who was promoted to executive director of Market Strategy for U.S. Markets East.
In his new role, Paterson will be responsible for all portfolio management, banking and new business development in the central region, which includes Western Pennsylvania and Ohio, the firm said.
Also, BNY Mellon Wealth Management announced the appointment of private banking veteran Leo Mutchler as escrow sales specialist for the firm’s tri-state region. He has more than 15 years of experience in commercial banking with firms such as JP Morgan, Morgan Stanley and Bank of America, the wealth manager said.
Margarida Correia writes for Bank Investment Consultant.