BNY Mellon, a global investment management and investment services firm, has named Mitchell Harris as Chief Executive Officer of the company's Investment Management business, effective immediately.

Harris, who already had responsibility for the day-to-day oversight of the company's investment boutiques globally and wealth management business, will report to Gerald L. Hassell, BNY Mellon's chairman and CEO.

Harris succeeds Curtis Arledge, who led the company's Investment Management business and Markets Group and has decided to pursue other opportunities outside of the company.

Harris, most recently president of BNY Mellon Investment Management, joined BNY Mellon in 2004 and has had a distinguished career in investment management and private banking spanning more than 30 years.

He was CEO of Standish, a BNY Mellon investment boutique, from 2004 to 2009.

He joined Standish from Pareto Partners, where he served as chief executive officer from 2000 to 2004 and as chairman from 2001.

In addition, Michelle Neal, president of the Markets Group, who reported to Arledge, will report to Hassell, effective immediately.

In her role, Neal leads the company's foreign exchange, securities finance, collateral management, and capital markets businesses.

"Mitchell has an impressive track record in the investment management industry, having led several successful firms during his career and most recently in overseeing our industry leading line-up of investment boutiques globally. He is well regarded across our client base, and I am confident he will lead our investment management business with great insight and success," said Hassell.

"I want to thank Curtis for his many contributions and helping to position our Investment Management and Markets businesses for growth and success moving forward,” he added.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top US wealth managers, with $1.6trn in assets under management.

BNY Mellon has been serving clients in South Africa since 1995.

The company established a representative office in Johannesburg in 2003, responsible for clients in South Africa and the rest of the sub-Saharan region.

The services to the region include asset servicing, asset management, corporate trust, depositary receipt, treasury and broker/dealer services.