BNY Mellon Investment Manager Sees Opportunity to Expand

NEW YORK and LONDON, January 28, 2013 — URDANG, the real estate manager for BNY Mellon, has named P.J. Yeatman to the new position of head of private real estate, with responsibility for setting strategy and leading the future growth of the private real estate business.

Yeatman, who also joins URDANG's management committee, reports to E. Todd Briddell, chief executive officer of URDANG.  Yeatman is taking on private real estate responsibilities formerly held by Richard Ferst, who had been URDANG chairman.  Ferst, who had been with URDANG since 1998, retired in December.

"We view P.J.'s track record, experience, energy and world-class investment capabilities as critical elements as we expand URDANG's private real estate investment capabilities and the breadth and depth of our strategies," said Briddell.  "P.J. is a veteran investment professional with 21 years of value-added real estate investment, redevelopment and restructuring experience in all property types and in most major U.S. markets."

Yeatman most recently had founded CoveredBridge Ventures, a Philadelphia-based real estate investment and advisory firm.  Previously, he had been the senior managing principal at the Lubert-Adler Real Estate Funds, where he led the firm's activities in distressed and public-to-private transactions. During his 11-year tenure, he participated in the raising of $6 billion of equity and was responsible for investing in excess of $650 million of equity.

He received his bachelor's degree from Babson College and his master's degree from the Massachusetts Institute of Technology.

Founded in 1987 with an exclusive focus on institutional investment grade real estate, URDANG offers a variety of strategies and products, managing approximately $6.4 billion in public real estate securities through Urdang Securities Management, Inc. and approximately $2.3 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 $1.4 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 $26.7 trillion in assets under custody/administration and $1.4 trillion in assets under management, services $11.4 trillion in outstanding debt and processes global payments averaging $1.5 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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