Jose Minaya Joins BNY as Global Head of BNY Investments and Wealth

Rhea-AI Summary

BNY has appointed Jose Minaya as the Global Head of BNY Investments and Wealth, effective September 3, 2024. Minaya will succeed Hanneke Smits, who is set to retire but will remain as Chair of BNY Investments until the end of 2024 to facilitate the transition. Minaya brings decades of experience from his tenure at Nuveen, where he held roles such as President and Chief Investment Officer. His leadership is expected to enhance BNY's capabilities in managing and growing its global wealth segment. The appointment underscores BNY's commitment to expanding its asset management and wealth services on an international scale.

Positive

• Jose Minaya's appointment as Global Head brings extensive experience from Nuveen, likely enhancing BNY's investment and wealth strategies.
• Transition plan with Hanneke Smits remaining as Chair through 2024 ensures continuity and smooth leadership change.
• Minaya's background in managing over $1 trillion in assets at Nuveen positions BNY to capitalize on global wealth segment growth.

Negative

• Hanneke Smits's retirement could cause temporary instability within BNY Investments and Wealth during the transition period.

NEW YORK, July 2, 2024 /PRNewswire/ -- BNY has appointed Jose Minaya as Global Head of BNY Investments and Wealth. 

Mr. Minaya will join the company on September 3, reporting to President and Chief Executive Officer, Robin Vince, and will be a member of the firm's Executive Committee. This appointment follows Hanneke Smits's decision to retire; she will continue in her current role until September 3, at which time she will transition to Chair of BNY Investments through the end of 2024 to support a seamless transition. 

"I'd like to thank Hanneke for her leadership and am very pleased to welcome Jose, an investment veteran with decades of diversified experience leading a major asset manager," said Mr. Vince. "BNY manages money, moves it and keeps it safe, and with the global wealth segment continuing to grow rapidly, we are uniquely poised to serve clients in the segment across the entire financial lifecycle. As we unite our top 15 global asset manager and our top 10 U.S. private bank, I believe Jose's leadership will enable us to be more for our clients around the world." 

"I am delighted to join BNY, a historic institution with a legacy of helping clients achieve their ambitions and advancing the future of finance, and to lead a globally renowned asset management and wealth franchise with deep relationships around the world," said Mr. Minaya. 

Jose joins BNY from Nuveen, a leading global asset management firm with more than $1 trillion under management. Previously, Jose served as President and Chief Investment Officer of Nuveen, responsible for overseeing all global operating and investment activities across equities, fixed income, real estate, private markets, natural resources, alternatives and responsible investments. He joined TIAA in 2004 as a fixed income portfolio manager after more than 10 years of investment experience at firms including AIG, Merrill Lynch and J.P. Morgan. 

He is also a member of the Board of Trustees of Manhattan College and the Board of Advisors of the Amos Tuck School of Business at Dartmouth, where he earned an MBA. Jose also serves on the boards of several companies and charitable organizations, including Moody's, the National Forest Foundation, the Investment Company Institute and the Investment Committee of the Board of Regents of the Smithsonian Institution. 

A longtime advocate of belonging and inclusion, Jose is Chair of the Governing Board of Directors of the Robert Toigo Foundation, which promotes inclusive leadership in finance and beyond, and was Executive Sponsor of TIAA's Inclusion and Diversity initiative. 

About BNY
BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. 

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow us on LinkedIn or visit our Newsroom for the latest company news. 

Media Contact
Anneliese Diedrichs
anneliese.diedrichs@bny.com  

 

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SOURCE BNY

FAQ

Who is the new Global Head of BNY Investments and Wealth?

Jose Minaya has been appointed as the new Global Head of BNY Investments and Wealth, starting September 3, 2024.

What experience does Jose Minaya bring to BNY?

Jose Minaya brings decades of diversified investment experience, having served as President and Chief Investment Officer at Nuveen, overseeing over $1 trillion in assets.

When will Jose Minaya start his role at BNY?

Jose Minaya will begin his role as Global Head of BNY Investments and Wealth on September 3, 2024.

What will happen to Hanneke Smits after September 3, 2024?

Hanneke Smits will transition to the role of Chair of BNY Investments until the end of 2024 to support the transition.

How might Jose Minaya's appointment impact BNY's stock (BK)?

Jose Minaya's appointment could positively impact BNY's stock (BK) by leveraging his extensive experience to enhance the firm's global wealth segment and asset management strategies.