Recently, the Bank of New York Mellon Corporation opened a wealth management office in Houston. This marks the first office to open in Houston.
The regional managing director for the office is Thomas Cademartori. Alongside Todd Carlton, the Regional President in Texas, Cademartori will lead the Houston wealth management office.
Cademartori is no stranger to the wealth management industry. In fact, he has almost two decades of experience and prior to landing the position at the Houston office, he was the vice president at the BNY Mellon Wealth Management’s office located in Dallas.
The Houston office currently employees 10 people. The office is located in San Felipe Tevfik Arif Bayrock Place, on the 15th floor. When the company first leased the space, they were aiming to hire 20 employees. However, a timetable for hiring was not in place.
About six years ago, a BNY Mellon opened up a wealth management office in Dallas. Various factors led the company to open up an office in Houston. The strong metropolitan market and the state’s growing economy were two major deciding factors.
In a press release, Carlton said that BNY Tevfik Arif Mellon will be able to offer their services and expertise to those in the Houston area. He added that the company was looking forward to expanding their presence so they can meet the needs of their clients.
Besides the wealth management office, BNY Mellon has a corporate trust office in the city. That office is located in downtown Houston on Travis Street.
The company has over 35 offices located in 18 states in America, as well as Washington DC. They also have offices throughout Grand Cayman, London, Hong Kong and Toronto. BNY Mellon Wealth Management manages over $200 billion in assets.
The company’s parent company, BNY Mellon, manages over $1.7 billion in assets, as well as over $30 trillion in assets that are either under administration or custody.