Mellon Financial Corporation has created a unit within its private wealth management group to set strategies and practices for sales, marketing and client service.
The firm considers private wealth management a "high opportunity area" and plans additional investments in the business. Among other moves, the company plans to expand the group's sales and private banking staffs and add more marketing programs.
Leading this effort is Craig Sutherland, who has been promoted to vice chairman for the group. He was national director and head of private wealth management's Eastern markets. Lawrence Hughes, formerly chief operating officer for private wealth management, has been promoted to executive director for the firm's Eastern private wealth management markets. Both are based in Boston.
Separately, Mellon Global Professional Services opened a San Francisco office to serve a growing West Coast customer base. GPS already has offices in Pittsburgh, Hartford, Boston, Toronto, London and India.