Bank of New York Mellon Corp is preparing to snap up depressed financial assets, gaining from the pain of others as it moves to expand its wealth management business, build critical mass, and extend its geographic reach.David Lamere, chief executive officer of BNY Mellon’s Wealth Management unit, says at the Reuters Wealth Management Summit that the meltdown in the financial markets is presenting it with opportunities to build its wealth management business.
“We are not in a huge hurry, but I think there will be a high level of mergers activity in general and for us in particular,” says David Lamere.
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