Hanneke Smits, chief executive at Newton Investment Management, will take over the reins as CEO of BNY Mellon Investment Management when Mitchell Harris retires on 1 October.
A new CEO for Newton IM has not yet been found, according to the firm, although Smits will remain at Newton until Harris leaves. Catherine Keating will remain in her role as CEO of BNY Mellon Wealth Management, and both she and Smits will report to CEO of BNY Mellon Todd Gibbons. Smits will also join BNY Mellon's executive committee.
Gibbons said: "Mitchell has been instrumental in driving our investment management business over the last four years as CEO and we wish him all the best in retirement. During a period of tremendous change in the investment landscape, he helped reposition our multi-boutique model and launch new investment capabilities, leaving us well positioned to meet the evolving investment needs of our clients.
"We are delighted to elevate Hanneke into the CEO role for Investment Management. She has spearheaded Newton's business momentum and client-centric culture, and we look forward to her leadership within Investment Management.
"Mitchell has cultivated a strong bench of leaders, including Hanneke and Catherine, who will continue to drive the execution of our strategic priorities to deliver leading investment solutions to our clients underpinned by exceptional investment performance."
Smits said she is "deeply honoured" to serve as BNY Mellon Investment Management's CEO.
"We have made great progress in building a diversified investment portfolio to help our clients achieve their investment goals. We will build on this strong foundation to continue to drive performance and innovation across our investment products, while also serving as a trusted partner for our clients in today's rapidly changing investment environment."
Smits has been CEO of Newton IM - a subsidiary of The Bank of New York Mellon Corporation - since August 2016. She has spent three decades working in financial services, having also worked at Pantheon and been chief investment officer at Adams Street Partners.
In 2015, Smits co-founded Level 20 - a not-for-profit organisation created to inspire women to succeed in the European private equity industry.