Public and Private Real Estate Investment Boutique Continues Strong Growth

PLYMOUTH MEETING, Pa., June 6, 2012 — BNY Mellon, the global leader in investment management and investment services, has announced that E. Todd Briddell will become the new chief executive officer of Urdang Capital Management, Inc. and Urdang Securities Management, Inc.  Briddell joined Urdang in 1993, and has most recently been president and chief investment officer. 

Richard Ferst, Urdang's current CEO, will become chairman of Urdang.

Urdang is BNY Mellon's investment boutique focused on public and private real estate. Founded in 1987 by Scott Urdang, the firm now has $7.3 billion in assets under management. Urdang has 56 employees working in offices stretching from its headquarters in Plymouth Meeting, PA, to London, Singapore and Newport Beach, CA.

Speaking about Briddell's new appointment, Mitchell Harris, president of BNY Mellon Investment Management, said, "Todd has been a driving force behind the growth of Urdang's domestic and global REIT business.  His experience and background will provide a strong foundation for this next phase of Urdang's growth overall."

Briddell commented, "Urdang is very well positioned to build on our insight into the marketplace and legacy of strong performance as we develop innovative solutions to meet our clients' needs."

All changes are effective July 1, 2012.

URDANG was founded in 1987 with an exclusive focus on institutional investment grade real estate. URDANG offers a variety of strategies and products, managing approximately $4.5 billion in public real estate securities through Urdang Securities Management, Inc. and approximately $2.8 billion (gross) in debt and private equity real estate investments through Urdang Capital Management, Inc. for institutional investors and high net worth individuals throughout global markets and across public and private capital sectors.  URDANG's research-driven process combines top down economic analysis and market/country selection with bottom up underwriting of properties, companies and management teams to seek high, risk-adjusted returns.  It is one of the investment boutiques of BNY Mellon Investment Management.

BNY Mellon Investment Management is one of the world's leading investment management organizations and one of the top U.S. wealth managers, with $1.3 trillion in assets under management. It encompasses BNY Mellon's affiliated investment management firms, wealth management services and global distribution companies. More information can be found at www.bnymellon.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.

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