Mellon Financial Corporation has announced that Scott Wennerholm has joined the company as chief operating officer for Mellon Institutional Asset Management (MIAM), the umbrella organization comprising Mellon’s 11 institutional investment subsidiaries worldwide.
Wennerholm will have oversight responsibility for MIAM’s strategy and business planning, technology, compliance and risk management functions, as well as the Mellon Institutional Funds.
Wennerholm succeeds Patrick Sheppard, who in May was appointed president and chief operating officer of The Boston Company Asset Management, a MIAM unit. He reports to Ronald P. O’Hanley, Mellon vice chairman and MIAM president.
“Scott possesses deep working knowledge of the factors that drive success in the investment management industry, from competitive positioning to operating models to distribution channels,” said O’Hanley. “Mellon has seen considerable growth in its institutional money management sector over the past three years. We’ve added or strengthened product capabilities from hedge funds and fixed income to international equities and currency overlay. Scott will help us continue to execute on this strategy.”
Wennerholm has more than 20 years of asset management industry experience, most recently as chief operating officer for CDC Ixis Asset Management Advisors Group, the distribution arm of that multi-manager firm, where he was responsible for finance, operations and risk management. Prior to that, Wennerholm worked for Fidelity Investments Institutional Services in several roles, including strategic planning, sales planning and financial management. He holds an MBA from Boston University.