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.