BNY Mellon has named the new CEO of its investment management division, following Mitchell Harris’ plans to step down and retire in October.
Hanneke Smits will take on the role replacing Harris, who has served as chief executive of BNY Mellon Investment Management since February 2016. The leadership changes will take effect on 1 October after a transition period.
Smits is currently the CEO of Newton Investment Management, a subsidiary of BNY Mellon, and she will hold her position until Harris’ departure. BNY Mellon said a search is currently underway for a new lead of the Newton business, and that Catherine Keating will remain CEO of BNY Mellon Wealth Management.
“[Smits] has spearheaded Newton’s business momentum and client-centric culture, and we look forward to her leadership within Investment Management,” said BNY Mellon group chief executive, Todd Gibbons. “Mitchell has cultivated a strong bench of leaders, including Hanneke and Catherine, who will continue to drive the execution of our strategic priorities to deliver leading investment solutions to our clients underpinned by exceptional investment performance.”
Smits has three decades of experience as she prepares for her new role. She previously served on the executive committee at private equity firm, Adams Street Partners, from 2001 to 2014, and was chief investment officer from 2008 to 2014. Smits also currently serves on the board of the Investment Association.
“We have made great progress in building a diversified investment portfolio to help our clients achieve their investment goals,” Smits commented. “We will build on this strong foundation to continue to drive performance and innovation across our investment products, while also serving as a trusted partner for our clients in today’s rapidly changing investment environment.”