Bank of America Merrill Lynch has hired David Tyrie, formerly with Putnam Investments, as head of personal retirement services. He will report directly to Andy Sieg, head of retirement and philanthropic services division.
At Putnam, Tyrie was managing director for global products and marketing. BoA Merrill announced the hiring on Monday.
BlackRock Names Rieder CIO, Fixed Income
BlackRock has promoted Rick Rieder to chief investment officer of fixed income, fundamental portfolios.
Rieder joined the New York-based company's fundamental fixed income leadership team last year in a transaction that brought the investment leadership of R3 Capital Partners to BlackRock.
In addition to serving as head of corporate credit at BlackRock, Rieder was deputy CIO of fixed income, fundamental portfolios. In that role, he shared responsibility for leading the overall fundamental fixed income investment process.
At R3, Rieder was president and chief executive officer. Before that, he worked for Lehman Brothers for more than 20 years, where he led a variety of fixed income businesses, including corporate and emerging-market bond-trading, corporate bond trading, global credit and global principal strategies.
Rieder succeeds Curtis Arledge, who has been CIO since the first quarter. Arledge recently became CEO of BNY Mellon Asset Management. He reports to Peter Fisher, who continues to serve as head of fixed income at BlackRock.
"Our top priority has been to continually enhance our over 400-person strong global fixed income team, and our sophisticated proprietary risk management systems and tools, to ensure the consistency of our investment approach and continuity of our focus on investment performance," Fisher said. "This bench strength allows for a seamless transition and advancement for investment professionals within our platform."
Rieder will continue to be head of corporate credit, and will also assume responsibility for the multi-sector and mortgage group.
BNY Mellon Taps Arledge As Asset Mgmt. Vice Chair
BNY Mellon Asset Management has tapped Curtis Arledge, the former CIO of fixed-income at BlackRock, to take the helm and lead its business on a permanent basis.
In an announcement late yesterday, Bank of New York Mellon's money management division said that Arledge will join as vice chairman and head executive in the fourth quarter of 2010. Mitchell Harris, the current interim CEO, will be relieved of the management role and assume his previous post as vice chairman of the fixed-income, cash and currency group.
Back in May, the asset management business named Harris and Jon Little co-interim heads when its former President and CEO Ronald O'Hanley announced that he would be leaving the firm. And just last week, news outlets reported that Little would resign from his role to head a new global asset management initiative at Kedge Capital, a family office of Swiss-entrepreneur Ernesto Bertarelli.
In addition to his asset management position, Arledge will also have executive leadership over financial service1s juggernaut's wealth management arm as well, the statement explained.
"We are delighted that Curtis is joining us at a time when our asset and wealth management franchise is growing, fueled by an unrelenting focus on investment performance and superb client service by our team worldwide," said BNY Mellon Chairman and CEO Robert.
Seperately, BlackRock has selected Rick Rieder, its previous head of corporate credit and deputy CIO of fixed-income, to replace Arledge.
Prior to his BlackRock appointment in 2008, Arledge, a 20-year asset management and investment banking veteran, held several leadership bond roles at Wachovia and was a founding member of Mariner Investment Group, a fixed-income arbitrage trading firm.
Currently, BNY Mellon has $21.8 trillion in assets under custody and administration and nearly $1 trillion in assets under management, the firm said.
Jeffery Joins Rockefeller As Chief Executive Officer
Rockefeller Financial has named Reuben Jeffery III chief executive officer.
In his new position, Jeffrey will assume responsibility over the New York-based company, which also has offices in Boston, Washington, D.C., Connecticut and Delaware, as well as its four subsidiaries: Rockefeller Wealth Advisors, Rockefeller Asset Management, Rockefeller Capital Partners and Rockit Solutions.
Previously, back in September 2009, Rockefeller Financial placed Austin Shapard, its president and chief operating officer, in charge of daily duties following the death of its former chief, James McDonald, according to published reports. Since this occurrence, the firm was said to be searching for a suitable replacement, which it says it has now found in Jeffery.
Prior to joining the 31-year old firm, Jeffery was a senior adviser at the Washington, D.C.-based Center for Strategic and International Studies. He also held posts in the U.S. Government under the Secretary of State for Economic, Energy and Agricultural Affairs. Additionally, he was a former chairman of the U.S. Commodity Futures Commission, and previously spent 18 years at Goldman Sachs as a managing partner at its Paris location and as a member of its London-based European Financial Institutions Group.
As of June 30, Rockefeller had roughly $25 billion in assets under administration.