Mellon To Hire Researchers, Focus On Structured Products

Mellon Human Resources & Investor Solutions in London expects to hire two or three professionals by June to join its newly formed specialist research team of four, in order to build its investment consulting business and push for larger institutional clients. The specialised team "will now have more time to focus on structured products like derivatives and swaps," said Paul Black, head of investment consulting. "Trustees are more educated and confident about alternatives, which reduce risk and enhance returns," he explained.

The successful applicants will report to Robert Treich, head of investment research in London, who joined Mellon last month from Banco Comercial Portugues.

Mellon's move is part of a trend among consultants to hire derivatives experts because of increased interest from pension funds. Last month PSolve Asset Solutions hired Jack Berry, head of structured products at the investment bank Gensec, as principal and head of structured products. Andrew Drake, principal at PSolve in London, said, "We wouldn't employ Jack if there was not a significant demand from pension funds for structured products," he added.