David H. Cameron Appointed Chief Executive Officer and President of The Boston Company Asset Management
October 24 2007 - 9:00AM
PR Newswire (US)
Chairman Corey Griffin to Increase Emphasis on Evolving Client
Needs BOSTON, Oct. 24 /PRNewswire-FirstCall/ -- David H. Cameron
has been promoted from chief investment officer to chief executive
officer and president of The Boston Company Asset Management, LLC
(TBCAM), an investment subsidiary of The Bank of New York Mellon
Corporation. Corey A. Griffin, who had been chairman and chief
executive officer, made the announcement today and said he will
retain his position as chairman. Cameron will report to Griffin.
Griffin said the personnel moves will afford him the opportunity to
devote more time conducting discussions with clients, consultants
and distribution partners to assess their evolving investment
needs; positioning TBCAM as a leader in providing creative high
alpha solutions; and preserving and enhancing the firm's global
footprint through the BNY Mellon multi-channel distribution model.
"The appointment of Dave Cameron as chief executive officer and
president is a formal recognition of the perspective and leadership
that he has brought to our firm and the important role he will play
going forward," Griffin said. "In partnership with our clients,
Dave will lead the development of investment solutions that achieve
their objectives in an environment of persistently low returns. We
also will look to Dave to generate new ideas about how to source
alpha and beta. He is the ideal person to direct our firm in this
undertaking based on his leadership abilities, considerable
investment experience, and knowledge of the markets." Cameron has
nearly 30 years of experience in investment management. He joined
Standish, Ayer & Wood, now Standish Mellon Asset Management in
the investment management group of BNY Mellon Asset Management, in
1987. His responsibilities have included chief equity officer and
portfolio manager at Standish, where he oversaw U.S. and non-U.S.
portfolio management teams, and director of the core and growth
strategies at TBCAM. As chief executive officer, he will be
responsible for the day-to-day management of the firm and,
specifically, for creating an organizational framework that further
aligns the firm with the evolutionary changes in the money
management business. He was awarded a bachelor's degree in
economics and political science by St. Lawrence University and is a
CFA charter holder. "I am grateful for this exciting opportunity to
lead one of the most client-focused asset management firms in our
industry." Cameron said. "Under Corey's leadership, TBCAM has
skillfully transformed its operating model and brand into a
full-scale, broad-based fundamental equity firm. One of my
immediate goals as CEO is to ensure that we don't rest on our
laurels and continually seek to build out our capabilities to meet
the future needs of our clients, employees and shareholders." As
part of the firm's long-term strategic planning, Griffin and
Cameron will work to develop a structure that supports the
generation of alpha to solve the increasingly complex needs of
clients who require excess returns to meet their objectives amid a
persistently low-return environment, side-by-side with the existing
robust "long-only" business. "As the pace of the industry
transformation accelerates over the next several decades, the
boundaries between long-only investing and alternative strategies
will continue to blur," Cameron said. "The pursuit of alpha fuels
demand for hedge funds, 130/30 strategies, structured products,
alpha transport (or portable alpha) and related approaches. At the
same time, the firm provides solutions to suit the investment needs
of an expanding client base, including defined benefit, endowment
and foundation, defined contribution, as well as retail and
insurance clients." Ronald O'Hanley, president and chief executive
officer of BNY Mellon Asset Management and vice chairman of The
Bank of New York Mellon, said, "The Boston Company Asset Management
has truly global reach serving multiple markets with a broad mix of
fundamental equity strategies. Splitting the roles of chairman and
chief executive officer adds more leadership and ensures that
opportunities will be exploited while laser focus remains on
investment performance. The partnership of Corey Griffin and Dave
Cameron will enable TBCAM to achieve even greater accomplishments
as we move forward." In a related announcement, John Truschel, CFA,
was promoted from director of portfolio strategy to chief
investment officer, succeeding Cameron in that role. Truschel's
tenure with Cameron dates back to 1997. He joined TBCAM from
Standish Mellon in 2003 as portfolio strategist for the
international core equity team and was an important contributor to
the team's success over the past four years. At Standish, he
chaired the firm's asset allocation committee and, as well as being
a portfolio manager on multi-strategy accounts. Prior to that,
Truschel was senior analyst with The Tower Group and product
manager at Fidelity Investments, where his duties included
developing asset allocation products for the intermediary
marketplace. Additionally, the firm is conducting an extensive
search for a director of portfolio strategy to succeed Truschel.
Truschel was awarded a bachelor's degree by Westminster College and
an MBA by the University of Pittsburgh. He is a chartered financial
analyst charter holder and a member of the Boston Security Analysts
Society The Boston Company Asset Management, a BNY Mellon Asset
Management business unit, manages more than $65 billion in assets
for more than 450 clients worldwide. It provides investment
management services for corporate, public, mutual funds and
Taft-Hartley retirement plans, endowments and foundations. The Bank
of New York Mellon Corporation is a global financial services
company focused on helping clients manage and service their
financial assets, operating in 37 countries and serving more than
100 markets. The company is a leading provider of financial
services for institutions, corporations and high-net-worth
individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and
treasury services through a worldwide client-focused team. It has
more than $20 trillion in assets under custody and administration,
more than $1.1 trillion in assets under management and services $11
trillion in outstanding debt. Additional information is available
at bnymellon.com. DATASOURCE: The Bank of New York Mellon
Corporation CONTACT: Mike Dunn of The Bank of New York Mellon
Corporation, +1-212-922-7859, Web site: http://www.bnymellon.com/
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