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4 execs quit Lockwood, start new investment firm

Four executives from Lockwood Advisors Inc., a Malvern-based investment subsidiary of BNY Mellon, have left to form a competitor, Palladiem Partners L.P., in Radnor.

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Four executives from Lockwood Advisors Inc., a Malvern-based investment subsidiary of BNY Mellon, have left to form a competitor, Palladiem Partners L.P., in Radnor.

Donald G. Robinson, a founder of Lockwood, which was bought by BNY in 2002, is chief executive and co-chief investment officer of the new company. He said the departure had nothing to do with BNY Mellon. "For me, it's sort of a redo to going back to being independent again," Robinson said.

Palladiem's plan is to provide investment services to independent financial advisers, broker dealers, and institutions, not directly to individuals.    -Harold Brubaker