Dreyfus Selects Baum for New Distribution Position
Dreyfus has hired Jon Baum as vice chairman of distribution, a new position at the firm. In this role, Baum will be responsible for overseeing distribution of Dreyfus's products to intermediaries and managing relationships with them, as well as supervising the firm's internal wholesalers and retirement and separate account specialists. He will report to Dreyfus President Thomas F. Eggers and serve on the firm's operating and senior management committees.
Baum joins Dreyfus from Scudder Investments, where he was chief operating officer, and Scudder's distribution arm, where he was chief executive officer.
"Dreyfus is now positioned as a customer-focused distribution company, capitalizing on our strong brand recognition and reputation," Eggers said. "Jon's distribution expertise, industry reputation and proven sales leadership will catapult our distribution activities, allowing us to better intensify our focus on our customers."
Mellon Taps Sutherland To Head New Bank Unit
Mellon Financial has created a new division within its private wealth management unit that will focus on sales, marketing and client service, naming Craig Sutherland as its vice chairman. Sutherland previously was national director and head of eastern markets for private wealth management. Lawrence Hughes, formerly private wealth chief operating officer, has been promoted to assume Sutherland's previous job, with the title of executive director.
"Mellon has committed significant resources this year to help us leverage our leadership position in wealth management," said David Lamere, president of private wealth management and Mellon vice chairman. "To take full advantage of this opportunity, it is critical that we have the right infrastructure, both to lead our growth efforts and, even more importantly, to ensure a consistently intense focus on excellence in client service and resource delivery."
As part of this move, Mellon plans to hire more sales and professional staff to work within private banking and to spend more on marketing and technology.
"The next few years will be an exciting time for us at Mellon," Lamere added. "Thanks to the success we've had over many years, and the extra commitment our corporation has made to private wealth, we are now poised for even greater success ahead."
Ritz Becomes Sales Exec At Newton Capital Mgmt.
Newton Capital Management, the U.S. subsidiary of Mellon Capital Management, has hired John Ritz as senior sales executive of U.S. business. He will report directly to Ciaran Spillane, the head of U.S. business. The two will work hand in hand to develop institutional client relationships and drive the growth of Newton in the United States. Ritz joined Mellon in 1997, working in its Pittsburgh office for the last five years.
SEC Compliance Hires Zitelli as Senior Executive
SEC Compliance Consultants has hired William E. Zitelli as a senior compliance consultant.
"Today, investment companies are operating in a time of unprecedented regulatory scrutiny, and they require specialized compliance counsel that is tailored
to their unique needs," said Janaya Moscony, founder and president of SEC Compliance Consultants.
Zitelli previously was the chief compliance officer for The Advisors' Inner Circle Funds. He has also worked for Merrill Lynch Investment Managers as internal legal counsel.
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