Bank of New York Mellon has changed the name of its real estate investment management business to CenterSquare Investment Management from Urdang Capital Management, according to a news release Monday.
The change is effective immediately.
The BNY Mellon news release cites “changes that have occurred at the firm over the last three years, including a 44% growth in assets under management to $9 billion, transition to new leadership, further expansion of its global markets, and a significant investment in world-class talent within its public and private market investment teams,” as reasons for the name change.
Urdang was founded in 1987 and was bought by Bank of New York in March 2006.
BNY Mellon spokesman Mike Dunn did not return a phone call for further information by press time.