BNY Mellon names Hughes to lead Its wealth management unit

Bank of New York Mellon Corp. named Lawrence Hughes head of its wealth-management unit, replacing David Lamere, who resigned. Hughes had been president of U.S. markets for BNY Mellon Wealth Management and has been with the company for 19 years, the New York-based bank said today in a statement. Lamere spent 27 years at the company. Robert Kelly, BNY Mellon’s chief executive officer, said the appointment of Hughes “ensures the continuation of a successful growth strategy that has resulted in 17 consecutive quarters” of rising assets. The wealth-management unit has $157 billion in assets, according to the company. BNY Mellon has $22.4 trillion in assets under custody and $1.1 trillion under management.