According to the announcement, in his new role, Capone will be responsible for all DC-investment activities at Mellon and for managing efforts across the organization to expand Mellon’s overall DC presence, penetration and asset base.
Capone’s primary goal in his role will be to increase Mellon’s DC assets under management by combining and leveraging the Mellon and Dreyfus sales channels. To this end, he will be working closely with Dreyfus’ Strategic Accounts group, the announcement said. Capone will be based in Boston and report to Mellon Asset Management’s Chief Operating Officer Scott Wennerholm.
Capone joins Mellon after 10 years at Mercer HR Services and Putnam Investments. He recently was Managing Director for Participant Services at Marsh & McLennan, responsible for $60 billion in institutional and retail retirement assets and customer service delivery for more than 2 million plan participants. Previously, he was Director of Relationship Management at Putnam. Before that, Capone spent three years at Fidelity Investments, managing service delivery of $75 billion in DC plan assets.