BOSTON, July 12 -- BNY Mellon issued the following news release:
Standish Mellon Asset Management Company LLC, the fixed income solutions provider for BNY Mellon, has hired Jeffrey Passmore, CFA, FSA, EA as senior liability strategist, further strengthening the actuarial capabilities at the company.
Passmore, an actuary, will work closely with Standish's affiliate, BNY Mellon'sInvestment Strategy & Solutions Group, a division of The Bank of New York Mellon (ISSG), in providing liability driven investing (LDI) solutions to Standish's pension clients. LDI strategies account for more than 12 billion Dollars of the 92 billion Dollars in assets that Standish manages for clients. ISSG also has actuarial capabilities.
Standish's approach to LDI combines liability analysis, monitoring and reporting expertise with investment solutions. In this newly created position, Passmore reports to Andrew A. Catalan, managing director and head of LDI strategies for Standish.
"Jeff Passmore brings a wealth of experience as a consultant advising pension funds on complex liability strategies," said Catalan. "We believe he will be a valuable member of our LDI team as we continue to evolve our strategic partnerships with plan sponsors who are seeking sophisticated solutions."
Passmore most recently had been an investment consultant for Buck Global Investment Advisors, where he provided investment consulting services to corporate retirement plans sponsors, and other institutional clients. Passmore received his bachelor's degree from the University of Texas, and is a CFA charterholder. He is a Fellow of the Society of Actuaries, a member of the American Academy of Actuaries and an Enrolled Actuary.
Standish Mellon Asset Management Company LLC, with approximately 92 billion Dollars of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit (investment-grade and high-yield), emerging markets debt (dollar-denominated and local currency), core / core plus and opportunistic (U.S. and global) strategies. Standish also offers full service capabilities in insurance and liability driven investing. The firm also includes assets managed by Standish personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon.
BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with 1.3 trillion Dollars in assets under management. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.
TNS C 71NayakRashmita 120713-JF78-3949608 StaffFurigay