The US investment giant now officially owns one of Silicon Valley’s investment managers.

BNY Mellon has completed its acquisition of Menlo Park, CA-based Atherton Lane Advisers.

With Atherton Lane now operating under BNY Mellon Wealth Management, the firm's former principal Perry Olson has been appointed as senior regional managing director for BNY Mellon’s Silicon Valley presence. Meanwhile, co-founder Garry Patterson has become regional managing director and co-founder Janet Littlefield is now senior director and wealth manager.

“Both organizations share a strong culture of focusing on clients and this agreement reinforces BNY Mellon Wealth Management’s global growth strategy and its commitment to growing our presence in Northern California,” said Don Heberle, chief executive at Mellon Wealth Management.  

“With this transaction, BNY Mellon is expanding its footprint in Silicon Valley which is one of the fastest-growing wealth markets in the world,” said David Emmes BNY Mellon Wealth Management’s president of US markets-west. 

Terms of the deal, which aims to boost Atherton Lane's private banking offering, were not disclosed.

BNY Mellon Wealth Management had $191.8 billion in private client assets as of December 31, 2015.