AUSTRALIA - Mellon Global Investments has continued its expansion into Australia with the opening of an office in Sydney and has appointed James Gruver as the first head of Mellon Global Investments Australia.
Mellon acquired Australia’s NSP Buck in November 2001.
Gruver will report to Jon Little, CEO of Mellon Global Investments, and Malcolm Park, CEO of Mellon Australia. Gruver previously held senior roles at SEI Investments, Delaware Investments and InvestorForce.
“Mellon already manages over A$1bn for Australian institutional clients and we expect this move to bring further expansion of our business,” said Little.
“Over the last three years we have introduced Mellon’s management capabilities to Europe, the Middle East and Japan and we are enthusiastic about our prospects for greater success in Australia.”
Later in 2003 Mellon intends to launch a range of registered wholesale trusts specifically designed to leverage Mellon’s experience in managing international mandates.
No decision has been made on which asset management subsidiaries will manage the new mandates, but they will leverage Mellon’s international equity, international fixed income and emerging markets capabilities.
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