CIBC Mellon CEO Monahan to retire 20 May 2016 Toronto Reporter: Drew Nicol
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CIBC Mellon president and CEO Thomas Monahan is preparing to retire at the end of 2016.
A successor has not yet been confirmed but CIBC Mellon is currently implementing a leadership transition plan.
During Monahan's time at CIBC Mellon, the bank has grown to manage CAD 1.6 trillion (USD 1.2 trillion) of assets under administration, strengthened its risk and governance regime and launched several new solutions for institutional investors in Canada.
Monahan said: "I've been fortunate to lead a successful company that is committed to client service, employee engagement, corporate social responsibility, operational excellence and strong governance."
"I am proud of the CIBC Mellon team that we have built and the standard of excellence we have established in Canada. In the best CIBC and BNY Mellon tradition, our executive management team will work collaboratively with the boards to ensure an effective transition."
Samir Pandiri, CEO of BNY Mellon's asset servicing business and chairman of CIBC Mellon, added: "Thomas Monahan has been a strong leader and advocate for our business and our clients, successfully managing CIBC Mellon through challenging times and uncertain markets."
"We are grateful for his outstanding contributions to our clients, our company and the investment services industry in Canada."
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