BNY Mellon names new chief 01 September 2011New York Reporter: Anna Reitman
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BNY Mellon has announced that Gerald Hassell, BNY Mellon's president and a board member since 1998, has been appointed chair and CEO effective immediately. Hassell also continues as BNY Mellon's president.
Previous chair, CEO and director, Robert Kelly, has stepped down by mutual agreement with the board of directors, "due to differences in approach to managing the company".
"Gerald is ideally positioned to guide BNY Mellon through the next phase of its growth and to bring it to its full potential," said Wesley Schack, lead director of BNY Mellon. "Over the course of his more than three-decade tenure with BNY Mellon and its predecessor company, The Bank of New York, Gerald has led nearly every major division of the company, has been a key decision maker on every major business action, executive hire and promotion in the merged company, and has served on its board of directors.
Since joining The Bank of New York's (BNY) management development program more than three decades ago, Hassell has had direct management responsibility for the company's broad range of investment services businesses, including asset servicing and issuer, broker-dealer, treasury and clearing services. He also oversees client management across the company's global businesses, as well as operations and technology. He was named to BNY's executive committee in 1994.
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