Bart Grenier will join The Boston Co. Asset Management as chairman and CEO, and Gabriela Parcella was named CEO of Mellon Capital Management, according to an announcement by BNY Mellon Asset Management, parent of both firms.
Mr. Grenier will join Boston Co. Asset on June 1. He will replace David Cameron, who will assume “a senior role within BNY Mellon Asset Management,” according to a BNY Mellon news release.
Mr. Grenier is coming from Deutsche Asset Management, where he has served as global chief investment officer. That position, focused on ensuring implementation of the firm's investment goals and policies rather than directly overseeing asset allocation or investment decisions, won't be filled.
In an e-mailed statement, DeAM spokeswoman Mayura Hooper wrote: “We wish him well and are grateful for his contribution to the firm.” His management responsibilities will be assumed by Roelfien Kuijpers, global head of DB Advisors, DeAM's institutional arm, she wrote.
Ms. Parcella, Mellon Capital's COO, is replacing Charlie Jacklin, who will become chairman and “focus his time on investment strategies and client relationships,” according to the news release. Current Chairman Thomas Loeb will join his Mellon Capital co-founder, Bill Fouse, in the role of chairman emeritus, the news release said.
In a telephone interview, Curtis Arledge, who became CEO of BNY Mellon Asset Management in November, praised Mr. Grenier and Ms. Parcella as asset management veterans with both “great vision and great execution skills.”
Mr. Arledge said the two executives were “not just going to be great leaders of their individual companies,” but important contributors to his efforts to harness the broad capabilities of BNY Mellon Asset Management in solving the problems of investors.