Mr. Murphy replaces James Gruver who has relocated to the US
BNY Mellon Asset Management has appointed Bruce Murphy as managing director of BNY Mellon Asset Management Australia. Mr. Murphy replaces James Gruver who has relocated to the US to work on strategic business growth initiatives.
Reportedly, based in Sydney, Mr. Murphy will report to David Jiang, CEO of BNY Mellon Asset Management Asia Pacific. His immediate goal is to continue to grow BNY Mellon’s asset management business in Australia, a key market for BNY Mellon in Asia Pacific.
Jon Little, vice chairman of BNY Mellon Asset Management, said: “The growth opportunities for our company in Australia are tremendous with the superannuation sector alone projected to grow at 8.43%, reaching A$2.3 trillion by 2018. The sophistication of the Australian market has lead to an uptake of specialist alpha generating investment ideas that provide strong opportunities for our product set.”
“Our asset management franchise is now near $1 trillion in assets under management and experiencing strong growth around the world. By bringing in top talent such as Mr. Murphy, we are confident we have the right people on board to manage the acceleration of our business and achieve our goals of being a top 10 money manager in Australia,” he added.