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BNY Mellon Plans to Double Number of Wealth Managers in Chicago Office

The Bank of New York Mellon, known more for its global custody and asset management operations, is beefing up its wealth management services. In fact, according to a press release, BNY Mellon plans to double the size of its Chicago wealth management office by the end of this year.

“BNY Mellon Wealth Management entered the Chicago market, the third largest wealth market in the U.S., a year ago and since then we have focused on growing our presence here by adding talented people to our team,” said Regional President Michael DiMedio. “We intend to sustain that robust growth by adding two more positions in the coming months."

The financial services giant recently hired three new wealth management professionals to service the Chicago market, bringing the total staff to 19, up from 12 a year ago when the wealth manager purchased the asset management business of Chicago-based Talon Asset Management

The new additions include:

  • Julie Pully, who started with BNY Mellon as a senior portfolio manager on July 23rd and will be responsible for working with clients on their wealth and investment planning strategies.
  • Catherine Schulze, a private banking specialist who will provide an array of banking services and advice, both to existing and prospective clients.
  • Lee Woolley, who started last month, and will work closely with DiMedio on sales and marketing efforts throughout the region.

Prior to joining BNY Mellon, Pully served as a senior portfolio manager for eight years at Northern Trust where she managed $700 million in assets. She previously worked for two years as a client advisor with the private wealth management group of Mercantile Safe-Deposit and Trust in Baltimore. She is a CFA charter holder who earned an MBA at the University of Chicago Booth School of Business and a bachelor of science from DePaul University.

Schulze comes to BNY Mellon from BMO Harris Bank in Barrington, Ill., where she served for 18 years, most recently as vice president and senior private banker for the company’s private client group. She earned an MBA from DePaul University and her bachelor’s at Clarke University in Dubuque, Iowa.

Woolley served at Northern Trust for more than 20 years in progressively responsible positions, most recently as a managing director leading the firm’s national advisory services group. He earned his B.A. from Knox College in Illinois and master’s in finance from the Kellogg Graduate School at Northwestern University.

In terms of wealth management, BNY Mellon Wealth Management manages just over $171 billion in private client assets and has a network of offices in the U.S. and internationally.

To put this in perspective with its other operations, BNY Mellon is a global financial services company with $27.1 trillion in assets under custody and administration and $1.3 trillion in assets under management. It services $11.5 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day.

AUTHORFred Yager Insider Comment

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