Bank of New York Mellon’s chief executive and chairman, Robert P. Kelly, has stepped down, the bank said on Wednesday, citing “differences in approaches to managing the company.”
Mr. Kelly, 57, a longtime bank executive who had once been seen as a candidate to to run Bank of America, had been chief executive since Bank of New York merged with Mellon Financial of Pittsburgh in a $16.5 billion stock deal in 2007. In December 2009, he sent a memo to employees saying that while he had been approached by another bank, “I firmly concluded that my place is here at BNY Mellon.”
Gerald L. Hassell, 59, the bank ’s president and a board member since 1998, has been appointed chairman and chief executive.
Bank of New York Mellon is one of the world’s largest custodial banks, with $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management.
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