BNY Mellon has appointed Mitchell Harris as sole head of its asset management business for an interim period.
Fellow co-head of the $1 trillion business Jon Little, who was also serving on an interim basis, has decided to quit the group to pursue other opportunities within the financial services industry. Little had been with the firm since 2000.
Harris will continue in his role as chairman of the fixed Income, cash and currency group of BNY Mellon Asset Management.
Harris served as chief executive at the firm's fixed income boutique, Standish, from 2004 to 2009 and as chairman from 2004. He joined in 1993 from Pareto Partners, where he served as chief executive officer from 2004
Commenting on the news, BNY Mellon chairman and chief executive Robert P Kelly said. 'The asset management leadership team has demonstrated resilience through challenging market cycles, continuing to provide our clients with strong investment performance and superior service around the globe.
'I’m pleased that we have the benefit of Mitchell’s outstanding leadership during this transition period and we wish Jon the best in his new role.'
BNY Mellon enjoyed inflows of $13 billion in the second quarter.
It's UK investment arm, Newton, has been one of the stars of the credit crunch. It contains seven Citywire rated managers: Tineke Frikkee, Iain Stewart, Ken Lyall, Ben Russon, James Harries, Christopher Metcalfe and Simon Laing.