Investment manager at Newton IM steps down from his position.
BNY Mellon, the multinational banking and financial services holding company, is undergoing a restructuring of its operations. This reorganisation does not appear to have directly affected the operations of its subsidiaries, such as Newton Investment Management or Mellon Investment.
In a notable move within Newton Investment Management, Curt Custard, who joined the firm in 2017 from UBS Asset Management, is stepping down as Chief Investment Officer (CIO) for Multi Asset due to family reasons. Custard had taken on this role, which was newly created in 2017, and will be returning to the USA to serve as Newton's global head of client solutions.
The Multi Asset division will now fall under Newton's purview. This shift follows the establishment of the Mellon unit in 2018, which was the result of the merger of Mellon Capital Management, Standish Mellon Asset Management, and The Boston Company Asset Management.
Some teams from Mellon Investment are being redistributed to other subsidiaries, but the details of these changes are not yet clear.
Intriguingly, the identity of the new Chief Investment Officer for Multi Asset at Newton Investment Management after Curt Custard's departure remains unspecified. Newton is currently searching for a suitable candidate to fill this role.
Meanwhile, James Lydotes, formerly Deputy CIO at Newton, is set to move to the position of CIO of Equities at Voya Investment Management starting September 2, 2025. Eric Stein, who is affiliated with Voya Investment Management, has been promoted to CIO overseeing all asset classes including multi-asset strategies, but this does not seem to indicate any direct link to the vacancy at Newton.
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Other teams within BNY Mellon's business are being restructured, such as the shift of the Multi Asset division under Newton Investment Management. The identity of the new Chief Investment Officer for Multi Asset at Newton, following Curt Custard's departure, remains undisclosed, with the company currently searching for a suitable candidate to fill this finance role.
