MONEY MANAGEMENT

Boston Co. Asset Management CEO departs; COO takes on interim role

Bart Grenier, CEO of Boston Co. Asset Management, has decided to leave the firm, confirmed a spokeswoman for parent company Bank of New York Mellon (BK) Corp. (BK)

Mr. Grenier left to pursue a future opportunity, though the spokeswoman did not have details. He had been CEO for six years.

Effective immediately, Adam Joffe, currently chief operating officer, is assuming the role of interim CEO while the firm seeks a permanent replacement. Mitchell Harris, CEO of BNY Mellon Investment Management, will oversee the selection process for the next CEO and will take input from key stakeholders at the Boston Co. and senior management at BNY Mellon.

Boston Co. Asset Management had $38.1 billion in assets under management as of Dec. 31.