Mellon is moving down under with the opening of its first office in Australia, in Sydney, New South Wales, the company announced Tuesday. As the new head of Mellon Global Investments Australia Ltd., James Gruvers immediate goal will be to grow Mellon's asset management business in Australia, which Mellon is calling "a strategic market." Mellon manages A$1 billion of institutional money in the country.
Gruver will report to Jon Little, CEO of Mellon Global Investments, and Malcolm Park, CEO of Mellon Australia, and will sit on the newly formed Mellon Asia Pacific Executive Committee, which has been chartered with developing Mellons long-term asset management strategy for Asia Pacific.
"Over the last three years, we have introduced Mellons management capabilities to Europe, the Middle East and Japan and we are enthusiastic about our prospects for greater success in Australia," Little said in a statement.