Paul Hatfield appointed Global Chief Investment Officer

LONDON and NEW YORK, February 2, 2010 — Alcentra*, a specialist asset manager focused on the sub-investment grade debt markets, has announced several senior management changes as part of its development plans for 2010 and in order to position the business for future growth.

Paul Hatfield, currently CIO and Head of US Operations, is to become Global CIO, based in London. Hatfield joined Alcentra in 2003 as a portfolio manager for Alcentra's European CLO funds, and became Head of US Operations in 2008. During this time he has relocated Alcentra's US business to New York and grown the assets under management to approximately $5bn, taking on management of BNY Mellon Capital Markets' CLO and Mezzanine funds, as well as acquiring Rabobank's CLO business in July of 2009. He will start this new role in April 2010.

Julian Colville (Head of Business Development) and Ron Grobeck (Senior US Portfolio Manager) have been appointed co-heads of the US business. Grobeck joined Alcentra as part of the Rabobank CLO acquisition. He was previously head of Rabobank's CLO operations. Colville will relocate to New York from London in March 2010 to focus principally on Alcentra's North American, Japanese and Australian business development efforts.

In Europe, Simon Perry is promoted to Head of Business Development EMEA ex-Japan. Perry joined Alcentra in May 2009 from UBS, where he was head of the bank's European CLO business.

Commenting on these changes, David Forbes-Nixon, Chairman and CEO of Alcentra, said: "Our US business has had strong growth over the last two years under Paul's leadership and is now among the leading CLO managers in the US, complementing our strong position in Europe; Paul's experience will help us as we continue our expansion globally. Our ability to fill all these positions internally is recognition of the strength and depth of our management team."

Hatfield, Colville, Perry and Grobeck report to Forbes-Nixon. Paul Echausse will continue to run Alcentra's US mezzanine business, reporting to Paul Hatfield.

Alcentra's asset management and investment activities are focused on the sub-investment grade debt markets, with offices in London and New York. The group has 52 professionals and almost $18 billion assets under management globally across 43 investment funds. Alcentra is 91% owned by BNY Mellon with 9% owned by Alcentra's management team and employees. Additional information is available at alcentra.com

BNY Mellon Asset Management is the umbrella organisation for BNY Mellon's affiliated investment management firms and global distribution companies.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). 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 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com.

*'Alcentra' refers to the following affiliated companies: Alcentra Limited and Alcentra NY, LLC. Assets under management include assets managed by both companies. Only Alcentra NY, LLC, offers services in the US. All information source BNY Mellon Asset Management as at 31/12/09. This press release is qualified for issuance in the UK and US and is for information purposes only. It does not constitute an offer or solicitation of securities or investment services or an endorsement thereof in any jurisdiction or in any circumstance in which such offer or solicitation is unlawful or not authorised. This press release is issued by BNY Mellon Asset Management (US) and BNY Mellon Asset Management International Limited (ex-US) to members of the financial press and media and the information contained herein should not be construed as investment advice. Registered office of BNY Mellon Asset Management International: The Bank of New York Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England no. 1118580. Authorised and regulated by the Financial Services Authority
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