BNY Mellon Wealth Management has hired a former Goldman Sachs banker to join its ultra high net worth family advisory team in Los Angeles, the firm said on Monday.
Ron Bruder, a 25-year financial services industry veteran, joined BNY Mellon as a managing director, overseeing specialized planning and investment services to clients in five states, primarily on the West Coast.
BNY Mellon Wealth Management, the New York-based subsidiary of the Bank of New York Mellon Corporation , has about $170 billion in private client assets.
Bruder, based in Newport Beach, California, works with clients in Texas, Nevada, Colorado, Washington and all of California. He reports to team leader Ridge Powell.
At Goldman Sachs, Bruder managed main floor operations of designated primary market-makers on the Chicago Board Options Exchange.
Deep expertise across a range of investment vehicles (is) critical as clients navigate an increasingly complex investment environment, Powell said, referring to Bruder's background as a strategist and risk manager.
Bruder is the second big addition to the firm in the past week. BNY Mellon last Monday hired a veteran Northern Trust banker, Penny Weeks, to lead its private banking business in New England.