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BNY Mellon Hires Lehman Alum Jack Malvey as Chief Strategist

Bank of New York Mellon Corp., which oversees $1.2 trillion in assets, hired former Lehman Brothers Holdings Inc. analyst Jack Malvey as chief global markets strategist.

Malvey, 59, was chief global fixed-income strategist before Lehman filed for bankruptcy and sold its investment banking business to Barclays Plc for $1.75 billion in September 2008. He was head of total-return strategy at Barclays Capital after the acquisition and left the firm in January 2009.

Malvey will report to Curtis Arledge, chief executive officer of BNY Mellon Asset Management. He will also be director of the firm’s Center for Global Investment and Market Intelligence in New York, which will analyze information from BNY Mellon’s investment groups to be distributed to clients, said Arledge, who joined BNY Mellon from BlackRock Inc. in November.

“Jack’s been an industry leader at gathering information and pulling together many great minds, which is exactly what he’ll be doing here,” Arledge said in a telephone interview from New York. “It’s an increasingly uncertain world, and we wanted to bring Jack to our platform to help our clients, and to help ourselves, figure it out.”

Institutional Investor magazine ranked Malvey and his team at Lehman as third best in fixed-income research for general strategy in 2008. It was the first time since 1997 that Malvey didn’t take the top spot. He was also ranked as the best in the high-grade corporate sector ranking from 1993 through 1997. Malvey was a consultant after leaving Barclays.

Hall of Fame

“It’s really a dream opportunity to join a world-class asset-management institution in such a prominent and exciting role,” Malvey said in a telephone interview. He started at BNY Mellon on March 21.

Malvey was inducted into the Fixed Income Analysts Society Hall of Fame in 2003, according to the group’s website. He joined Lehman after being a director of corporate-bond research at Kidder Peabody. Prior to joining Kidder, Malvey was an analyst at Moody’s Investors Service.

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