Senior director for business development, Paul Goodrich, and senior director for portfolio management, Edward Costello, joined the firm in November and report to Chicago regional president, Mike DiMedio. Managing director Robert Mitchell joined this month as part of the firm’s national family wealth advisor team, reporting to team leader Ridgway Powell.

The hires are part of the firm’s previously-announced plan to increase its sales team by 50 per cent by year-end 2014 and add a number of portfolio management and private banking positions.

“Since BNY Mellon opened its doors in Chicago with the 2011 purchase of Talon Asset Management, we have more than doubled the size of our staff to 25,” DiMedio said. “We will be adding four more professionals around the first of the year and then later in 2014 we plan to hire at least two more business development directors, a wealth strategist and additional support staff.”

Prior to joining BNY Mellon, Goodrich was a private client advisor and team leader at US Trust, Bank of America Private Wealth Management. He previously served as vice president at National City Bank from 2005 to 2008 in a business development role.

Costello was formerly a senior vice president and senior portfolio manager at US Trust, Bank of America Private Wealth Management. In addition to managing multi-asset class portfolios for high net worth and institutional client segments there, he was the lead proprietary fixed income portfolio manager for the 14-state central division.

Lastly, Mitchell joined BNY Mellon from Northern Trust, where he held several investment management roles over a 25-year period. Most recently, he was a senior portfolio manager and team leader within the firm’s global family and private office group and oversaw $5 billion in assets.

BNY Mellon Wealth Management is part of the global investment firm, BNY Mellon, and had nearly $180 billion in private client assets at end-September 2013.