Penrose Financial has been given a profile-raising brief for Newton Investment Management, a subsidiary brand of BNY (Bank of New York) Mellon Asset Management.
Newton Investment Management has been managing investments on behalf of individual investors and institutions since 1978 and currently manages in excess of £38bn.
The company looks after investments for pension funds, charities, institutions and private individuals.
Penrose managing partner Claire Burston will report to Jamie Brookes, BNY Mellon Asset Management's global head of asset management comms.
Brookes became Mellon's European comms chief in 2006, taking over from head of corporate affairs Jan Altink, reporting to Mellon International director of corporate affairs Rose Gabbianelli (PRWeek, 3 February 2006).
Brookes joined Mellon in 2002 from Legg Mason Investments, where he was head of comms. BNY Mellon was established last July through the merger of The Bank of New York and Mellon Financial.
Separately, Penrose has appointed two associate directors to its board of directors. Alex Clelland and Petrina Day were promoted this week. Clelland, who joined Penrose from Weber Shandwick in January 2007, will become partner in the Banking and Capital Markets team. Day, who has been with Penrose for ten years, will become finance partner.
Sally Todd and Burston become managing partners on the seven-strong board. Andrew Nicolls becomes senior partner and MD Gay Collins becomes CEO.