As honcho leaves BNY Mellon, who will step up?

Last Wednesday, the head of International Wealth Management at BNY Mellon left

Last Wednesday, the head of International Wealth Management at BNY Mellon left. Peter Moertl held the post since March 2010, and was responsible for the firm’s wealth management businesses outside America.

There were high hopes for international expansion when the former global head of Key Clients at UBS took over. BNY Mellon was so strong in the US that growth was hard to come by and so great emphasis was placed on the international markets.

Don Heberle, an executive VP, will now have to choose Moertl’s successor. And when it comes to sounding out the London wealth management scene, he could do worse than talk to Spear’s old friend and winner of our Outstanding Contribution to Wealth Management Award in 2009, Rupert Phelps, founder of BNY Mellon’s EMEA family office services division.