BNY Mellon Wealth Management shifts management

A Miami native has been tapped for a high-level job with BNY Mellon Wealth Management and plans to add new employees throughout the state this year.

Joe Fernandez was promoted to Florida regional president for the investment services firm, managing all portfolio management and new business development activities in the state.

Mr. Fernandez’s Dec. 4 promotion coincides with the retirement of Craig Sutherland, who devoted more than three decades to investment banking services, the last 14 years with BNY Mellon.

Mr. Sutherland held the title of president of the Southeastern US region for the firm before his retirement took effect Dec. 31.

“Essentially, when Craig headed the Florida region, he really established a deep bench of talent and Joe was in that group. He was a partner with Craig in building that organization,” said BNY Mellon spokesperson Susan Rivers.

Mr. Fernandez’s knowledge of Florida will “facilitate a seamless transition,” she said.

In fact, the two men used the last month to effectuate that transition. The process began in early December.

“We had basically an orderly transition,” Mr. Fernandez said, with Mr. Sutherland working through the end of the year to ensure the smoothest transition they could accomplish, he said.

“We worked very closely together over that last month,” said Mr. Fernandez.

Mr. Fernandez spoke highly of Mr. Sutherland and his career with BNY Mellon.

“Craig and I worked together 14 years… Craig had a long and very distinguished career for more than 30 years,” said Mr. Fernandez.

“We’ve done very well the last few years under his leadership. Being in a position to go out on top, in having recruited the management team that’s in place, he felt very confident in handing the reins over,” Mr. Fernandez said.

Mr. Sutherland said the BNY team in Miami has brought in lots of new clients in the past five years.

“I’m very proud of the Florida team. And Joe, who is succeeding me, is extremely talented and a huge contributor to that growth. I have every confidence success will continue with Joe leading Florida at this point,” said Mr. Sutherland.

The firm has generated so much “positive growth and momentum” in the Southeast that it decided to address the states individually, Mr. Fernandez said. In a comparable role to Mr. Fernandez, Christopher Hohlstein was named Georgia regional president for BNY Mellon Wealth Management.

The main clients of BNY Mellon Wealth Management are financially successful individuals and families and the entities that they support such as endowments, foundations and charities.

“We’ve been very fortunate to garner the confidence and trust of this very significant group of people,” said Mr. Fernandez.

Mr. Fernandez said BNY Mellon will continue to invest in growing the Florida market.

As part of that continued growth, the firm will be bringing on new employees in the new year. “We will be hiring throughout Florida in 2014 and beyond. And we’re very excited about the growth,” he said.

Mr. Fernandez was born and raised in Miami and has 26 years in investment and finance, including 17 years at BNY Mellon. Prior to his current role, he was president for Florida East overseeing investment personnel in Southeast Florida. Before that, he was a senior director and team leader of the Miami office. Mr. Fernandez previously was director of strategic planning for the Wealth Management Division, overseeing strategic initiatives globally, including mergers and acquisitions for the division.

Mr. Fernandez began his career at the firm as a vice president and portfolio manager in the Miami office. Prior to BNY Mellon, he held management positions for wealth management firms and international banking organizations.

Mr. Fernandez received his bachelor’s degree, cum laude, from Barry University and certificate in Personal Financial Planning from Florida State University. He is a Certified Financial Planner.

A member of the inaugural class of The Partnership’s Next Generation Executive program at Harvard Business School, Mr. Fernandez is also a former member of the board of directors and executive committee of the Miami Lighthouse for the Blind and served as its treasurer for four years.

Mr. Fernandez is a founding member of the Association of Latino Professionals in Finance and Accounting Corporate Advisory Board (Miami Chapter). He is vice president and a member of the investment committee for Mellon Hedge Advisors LLC and a voting member of the Alternative Investments Committee. He is also a member of the BNY Mellon Asset Management Operating Committee and the BNY Mellon Wealth Management Operating Committee. He is a founding member of BNY Mellon’s Global Diversity Council.

Mr. Sutherland said he has no immediate retirement plans other than rest and relaxation, and catching up with old friends.

“After 35 years… there are a number of other things I’d like to do while I can,” he said. But the number-one priority is to take a significant amount of time off this year and relax, said Mr. Sutherland, whose wife Lori retired five years ago.

Other ventures may be on his horizon, Mr. Sutherland said. “I’m sure I will reengage at some point, but for now that’s a ways off.” Along with reconnecting with friends, Mr. Sutherland plans a trip back to his hometown of Kokomo, IN, to visit his mother.

BNY Mellon delivers investment management and investment services in 35 countries and more than 100 markets. As of Sept. 30, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 trillion in assets under management.

BNY Mellon is the corporate brand of The Bank of New York Mellon Corp. BNY Mellon Wealth Management’s Miami office is at 1450 Brickell Ave., Suite 2700.