NEW YORK, March 13 /PRNewswire-FirstCall/ -- Newton Capital Management Limited, the UK-based asset management subsidiary of Mellon Financial Corporation (NYSE: MEL - News), has announced the appointment of Jon Ritz as senior sales executive of U.S. business.
Ritz reports to Ciaran Spillane, head of U.S. business; and the two will be responsible for developing institutional client relationships and driving the growth of Newton in the U.S. Spillane joined the firm in January.
Ritz joined Mellon in 1997 and has been with Mellon Asset Management in Pittsburgh for the last five years. He was previously assigned to Mellon's Strategic Sales and Marketing group as the primary contact for Mellon Asset Management's capabilities, and was responsible for prospecting, direct sales and developing referrals from Mellon businesses.
" Newton is committed to building a successful long-term business in the U.S., and we believe it is essential to have U.S.-based relationship managers to service our clients," said Mark Scott, head of Newton's Institutional Business. "Ciaran and Jon will be responsive stateside, while making sure clients have access to our London-based investment professionals whenever they are needed. Jon's experience at Mellon and his proven business development capabilities will contribute strongly to these efforts."
Ritz earned a master's degree in business administration from the University of Notre Dame and a bachelor's degree in finance and management from Virginia Polytechnic Institute and State University, and is a Chartered Financial Analyst (CFA) and member of the CFA Institute. He joined Mellon from The PNC Financial Services Group, Inc., where he was a senior relationship manager in its Commercial Banking division.
Newton, established in 1978, has over $50 billion of assets under management, and 55 investment professionals located in London. Acquired by Mellon Financial Corporation in 1998, Newton is a specialist in global portfolios, accounting for over 70% of its institutional mandates. Newton's investment process is bottom-up within a global thematic framework, and the firm has a track record of strong management of international equity, global equity, European equity and global fixed income portfolios.
All figures accurate as at 31 December 2005.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.7 trillion in assets under management, administration or custody, including $781 billion under management. News and other information about Mellon is available at http://www.mellon.com.
Newton Capital Management LLC provides marketing services in the U.S. for Newton Capital Management Limited. ' Newton' refers to the Newton group of companies that include Newton Investment Management Limited and Newton Capital Management Limited. Assets under management include assets managed by Newton Investment Management Limited, Newton Capital Management Limited, Newton International Investment Management Limited and Newton Fund Managers (CI) Limited. Newton Capital Management LLC, Newton Capital Management Limited, Newton Investment Management Limited, Newton International Investment Management Limited and Newton Fund Managers (CI) Limited are affiliated entities.
Important Information - Newton Capital Management Limited
Newton Capital Management Limited is an investment management firm, authorized and regulated in the UK by the Financial Services Authority in the conduct of investment business and is a wholly owned subsidiary of Mellon Financial Corporation Inc. Registered in England No. 2675952.
Past performance is not necessarily a guide to future returns. The value of investments and the income from them can fall as well as rise and investors may not get back the original amount invested. The value of overseas securities will be influenced by fluctuations in exchange rates. If the portfolio invests in sub-investment grade bonds that typically have a low credit rating these carry a high degree of default risk, which can affect the capital value of your investment. If the portfolio has exposure to hedge funds, gold, private equity and property via publicly quoted transferable securities, there are additional risks associated with these sectors. This press release may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or not authorized.
The opinions expressed in this press release are those of Newton Capital Management and should not be construed as investment advice. In addition the information should not be construed as a recommendation to buy or sell a security.
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