Mellon Financial Adds Office in Florida

Mellon Financial's Private Wealth Management Group opened a new office Naples, Fla., to address what it says is continued growth in the state.

Mario Trueba, who oversees Mellon's private wealth operations in Florida, says the office will position the firm for growth throughout the Gulf Coast region.

The Naples office will offer wealth management and banking services. Its management includes vice presidents Ted Corbin and Sharon Treiser, who are responsible for new business development; vice president Michael Nurenberg, a senior portfolio manager who manages private client portfolios; and vice president Tom Sharpe, who oversees private banking services.

Analysts have been upgrading their ratings of Mellon recently. Last week Banc of America Securities upgraded the firm's stock from "neutral" to "buy."