Mellon, one of the dominant players in the Total Benefit Outsourcing (TBO) arena, has been adding key personnel and business units over the past several years as it focused on the burgeoning HR outsourcing business (see Scale Shapes the Big “O” ).
Now Jim Aramanda, a Mellon Vice Chairman tapped to head the Human Resources Services area in March (see Aramanda Named to Mellon HR Group Post ) has reshuffled the deck, and brought the four operating units in the HR Services sector – Mellon HR Solutions, Buck Consultants, Mellon Investor Services and Vinings Mellon – together in a single unit. The current line of business brands will be phased out over the course of 2003.
However, as is often the case with a reorganization of this magnitude, Mellon’s new HR Services configuration will proceed without the services of Jude Metcalfe, who has decided to leave Mellon to pursue other opportunities, according to the firm. Metcalfe, an early outsourcing champion, had been President and CEO of Mellon HR Solutions, joining Mellon in 2000 after heading up retirement plan services at Fidelity (see Fidelity Exec To Head Dreyfus, Buck Units ).
Prior to Fidelity, Metcalfe was a partner at Fort Lee, New Jersey-based Kwasha Lipton, where he was charged with fully reorganizing the firm’s total benefits outsourcing business – a firm later acquired by Mellon as part of its 2001 acquisition of the human resources outsourcing and consulting businesses of Unifi Network, at the time a PricewaterhouseCoopers subsidiary (see Mellon to Buy Unifi ). Metcalfe had reported to Aramanda since the latter’s appointment to head the HR Services unit.
The remainder of the new leadership team is:
- Julian Clark: Investor Services
- John Coker: Operations
- Howard Fine: Eastern US and Canada Markets
- Iris Goldfein: Strategic Human Resources
- David Hofrichter: Compensation
- Rob Lynch: Health and Welfare; interim leader of Retirement
- Ken Kirk: Cross Sector Mellon Linkages
- Tony Martin: Strategy and Corporate Development
- Pat Milligan: Worldwide Markets
- Ray Van Cott: Technology
In addition to Mellon HR Solutions and Buck Consultants, the new combination brings not only the stock transfer agency services of Mellon Investor Services into the fold, but also its ability to administer equity-based compensation plans (including employee stock option and employee stock purchase plans). Atlanta-based Vinings Mellon brings consulting and administrative expertise in the area of nonqualified benefit plans and taxable trusts.