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BNY Mellon hires vice chairman

Curtis Arledge will join BNY Mellon as vice chairman of the corporation and chief executive officer of BNY Mellon Asset Management.

Arledge is expected to join the group in the fourth quarter of this year. He was the chief investment officer for the fundamental fixed income portfolios at BlackRock.

He has also served as co-head of US fixed income at BlackRock and has more than two decades of asset management and investment banking experience.

Once he has taken up his new role at BNY Mellon, he will report to Robert Kelly, the chairman and chief executive officer. He will also have executive leadership responsibility for the group’s wealth management business.

Mitchell Harris, who is serving as interim head of the asset management business, will continue in his role as chairman of BNY Mellon Asset Management’s fixed income, cash and currency group.


Nucleus appoints head of risk

Nucleus has appointed former Standard Life head of legal for wrap business Leanne Prowse to the newly created role of head of legal, risk and compliance. Prowse joined the platform today and will be responsible for consolidating Nucleus’ legal framework and implementing best legal and regulatory practice. She has also taken up the role of […]

Treasury getting cold feet over the tax costs of Nest

The Treasury is having second thoughts about Nest over fears it will lose money in the short term because of the increased cost of tax relief, according to independent policy adviser Ros Altmann. Speaking last week at the Money Marketing Retirement Summit in Dublin, Altmann said the Department for Work and Pensions remains positive about […]

Aviva protection deal with Santander

Aviva has signed an exclusive five-year deal with Santander which will see Aviva’s life insurance, critical-illness and income protection products distributed to Santander’s UK customers.


Capita faces 1,300 CF Arch Cru investor complaints

Complaint letters from over 1,300 investors in the CF Arch Cru fund range will this week be sent to Capita asking for the firm to refund their original investment plus interest. This week’s Money Marketing reveals that the deluge of complaints has been organised in association with 128 IFA firms advising the 1,312 investors, and […]

The curse of long-term cash

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment. There is nothing wrong with holding wealth in the form of cash on a short-term basis. For many people capital stability is important and access to ready cash […]


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