People Moves
BNY Mellon Taps Wealth Management Potential In New England With Key Hire
BNY
Mellon Wealth Management has hired Peter Balesano as senior
director for business
development in Westborough, MA
- a key wealth market for the New England
region, according to the New York-listed firm.
Balesano has
25 years of investment management experience and will report to
managing director
for sales, Frederick Young. Prior to
joining BNY Mellon, he was manager of the wealth management group
for People’s
United Bank, having previously worked as city executive at Bank
of America
Private Bank.
BNY
Mellon said yesterday it plans to recruit five more people in the
New England
region over the next 18 months as part of its two-year recruiting
campaign to
increase its wealth management sales force by 50 per cent and add
key roles in
what views as the top US wealth markets.
For
example, Caroline Lee-Tsao has also been named senior director
for portfolio
management in San Francisco,
CA.
Lee-Tsao will lead a San Francisco-based team of client
relationship managers
and portfolio managers. She will report to Amy Millman, Northern
California president of
BNY Mellon Wealth Management.
Lee-Tsao
was latterly a senior vice president of investments with Progress
Investment
Management Company. Prior to that, she was a managing director
and portfolio
manager at Charles Schwab Investment Management, where she
managed multi-asset funds.