Volker Kurr To Lead Joint Venture Investment Manager

LONDON, 21 January 2010 — BNY Mellon and WestLB AG have jointly announced the appointment of Volker Kurr as CEO of their joint venture investment management business, WestLB Mellon Asset Management KAG. Kurr succeeds Kevin Birch following his retirement in 2009.

Kurr joins from UBS Global Asset Management where he was Head of Institutional and Wholesale Business Development. Prior to joining UBS, Kurr worked at Cominvest Asset Management where he was a member of the Managing Board focusing on institutional business development. His previous experience includes working at SEB Asset Management, one of Germany's leading asset management companies, where he was Head of Sales and Global Product Development.

Commenting on Kurr's appointment Jon Little, vice chairman of BNY Mellon Asset Management, said: "Volker's deep understanding of the retail and institutional marketplaces in Germany will position us well for future growth. It is unusual that such an experienced individual be qualified in both areas and we are delighted that he has decided to join our company. Germany is one of the most important markets for us in Europe, and globally, and Volker's appointment will significantly enhance our capabilities in the region."

Volker Kurr added: "WestLB Mellon is a key player within the German investment management industry, and with the support and expertise of the two joint venture partners I am confident our business will grow significantly over the coming years. I am pleased to join an organisation with such a strong history and leadership team."

WestLB Mellon Asset Management was formed as a joint venture between Mellon Financial Corporation (now BNY Mellon) and WestLB AG in 2006. WestLB Mellon is a specialist in all aspects of European Fixed Income, European Equities and Balanced mandates. The company has a distinct investment philosophy and process that combines fundamental with quantitative analysis; an adaptable approach that has yielded consistent results for investors.

BNY Mellon's total assets under management, excluding securities lending assets, amounted to $1.1 trillion at the end of December 2009. In 2009 BNY Mellon Asset Management was ranked no. 11 in the annual Pensions & Investments/Watson Wyatt Worldwide global ranking of the 500 largest money managers. In addition, Institutional Investor magazine's ranking of the top 300 US money managers saw BNY Mellon move up two places from 10th to eighth. P&I's analysis of global institutional investment managers ranked BNY Mellon fourth overall, and Investment & Pensions Europe ranked the company seventh for managers active in the European marketplace.

WestLB Mellon Asset Management is a 50:50 joint venture formed in April 2006 between WestLB AG and The Bank of New York Mellon. WestLB Mellon has $33.2bn in assets under management, with special expertise in the management of European Fixed income and equity products.

BNY Mellon Asset Management is the umbrella organisation for The Bank of New York Mellon Corporation's affiliated investment management firms and global distribution companies.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com.