Deals & People May 9, 2011

BNY Mellon Names President of Investment Management

Mitchell Harris has been named to the newly created position of president of BNY Mellon's Investment Management division, which comprises BNY Mellon Asset Management and BNY Mellon Wealth Management.
Reported by

Harris, who had been interim head of the asset management business, also was named to BNY Mellon’s executive committee. He reports to Curtis Arledge, vice chairman of BNY Mellon and chief executive officer of investment management. 

According to a company announcement, Harris also will partner with Larry Hughes, chief executive officer of BNY Mellon Wealth Management, to further the delivery of asset and wealth management expertise to a broad range of clients.  He will continue as head of BNY Mellon Asset Management’s Fixed Income, Cash and Currency Group, overseeing businesses with more than $500 billion in assets under management including Pareto, Standish Mellon Asset Management Company LLC, Alcentra and BNY Mellon Cash Investment Strategies (a division of The Dreyfus Corporation).  

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Harris’ prior roles included serving as chief executive officer of Standish and Pareto and he remains chairman of both.  Before joining Pareto in 1993, he worked at Citibank for 14 years where his responsibilities included managing the private bank business in Germany and Jersey (Channel Islands) and the London private bank for European marketing.
 

Products May 9, 2011

BlackRock Launches India Fund

BlackRock, Inc. has launched the BlackRock India Fund.
 
Reported by

The firm said it will leverage its joint venture with Mumbai-based DSP BlackRock Investment Managers Pvt. Ltd., which has advised the BGF India Fund, a similar fund in partnership with BlackRock for offshore investors, since 2005. 

The BlackRock India Fund (NASDAQ:BAINX) will offer a well-diversified portfolio of Indian companies, BlackRock said. The fund manager seeks to maximize total return by reflecting views on the macro-economic environment as well as by using a “bottom up” approach, which entails the fundamental analysis of individual stocks and companies.
 
Nick Scott, portfolio manager of the Fund and Chief Investment Officer of Asian Fundamental Equity for BlackRock Hong Kong, will oversee the fund.

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