BNY Mellon adds to German team with executive hires
BNY Mellon has become the second group in a day to announce it is boosting its presence in German-speaking Europe by making two executive appointments.
Investec, the first, announced this afternoon it had hired Reinhard Müller from Pioneer as institutional sales director for Switzerland, based in Zurich.
BNY Mellon’s appointments, of Fred Bromberg and Thomas Brand, will both be based in Frankfurt.
Tim Keaney, chairman of Europe at BNY Mellon, said: “Germany is one of six target global growth markets for BNY Mellon. Both Fred and Thomas will be instrumental in driving that growth strategy, given the long experience and deep knowledge of German clients’ needs that they bring to their new roles.”
Bromberg is to become country executive for Germany, and regional executive for German-speaking, and central and southeastern, Europe.
He was previously global head of sales and relationship management for J.P. Morgan’s treasury and securities services business.
At BNY Mellon, he will also remain senior executive within the newly-formed strategic client group. He assumed this role when he joined last year.
Brand will become business executive for financial markets and treasury services (FMTS) for Germany and central and southeast Europe.
He was previously country executive for Germany, and regional executive for German-speaking and central and southeast Europe for 11 years.
Germans bought a net EUR 31bn of investment funds last year, according to Lipper. They purchased chiefly mixed funds (EUR 14.6bn) and equity products (EUR 2.8bn), while selling money market funds (EUR 15.1bn) and property funds (EUR 2.1bn).
Germany jumped European rankings in terms of net buying, from thirty first in 2009, to fourth last year, behind Norway, Switzerland and Sweden.