BNY Mellon in asset servicing shake-up
23 January 2012 London
Image: Shutterstock
BNY Mellon has announced a reorganisation of its asset servicing management team.
Vince Sands is named as deputy CEO of BNY Mellon Asset Servicing and will report to Tim Keaney, vice chairman and CEO of BNY Mellon Asset Servicing. Replacing Sands, Samir Pandiri, previously CEO of BNY Mellon Shareowner Services, will take over as head of the Americas' Asset Servicing business and will report to him.
Lou Maiuri, previously head of outsourcing, is named as head of the Global Financial Institutions business. Maiuri takes over from Nadine Chakar who becomes global head of BNY Mellon’s Derivatives360 business. Chakar will report to Karen Peetz, vice chair and CEO of Financial Markets and Treasury Services at BNY Mellon.
“At a time of unprecedented market and regulatory change in the derivatives markets, Nadine's proven
leadership and abilities will ensure that we continue to meet the evolving needs of our clients as we expand our derivatives offerings globally,” said Peetz.
Chakar succeeds Patrick Tadie, who has been named business executive for the company's Alternative and Broker-Dealer Services businesses. She has more than 20 years of progressive experience at BNY Mellon.
Hani Kablawi is expected to become head of EMEA Asset Servicing, replacing Frank Froud who is leaving the company. Kablawi has recently acted as head of client management for the EMEA region. Replacing Kablawi will be Ian Stewart, who will oversee country management and strategic clients across the EMEA region and continue in his role as head of North America client management. Stewart will report to Jim Palermo, vice chairman and CEO of Global Client Management.
Both Maiuri and Kablawi will report to Tim Keaney. Chong Jin Leow, head of Asia Pacific Asset Servicing, will continue to report to Keaney.
Tim Keaney said, “These changes will enable us to have a more focused and streamlined approach to building our business and delivering excellent client service in a rapidly changing economic environment. Vince, Samir, Lou and Hani all have terrific experience within our company and deep knowledge of the asset servicing business.
“We are grateful to Frank for his contribution to the company and to Nadine for her leadership within the Asset Servicing business over the past decade. Both have played an important role in the successful integration of The Bank of New York and Mellon Financial following our merger in 2007, and we wish them all the best for the future.”
Vince Sands is named as deputy CEO of BNY Mellon Asset Servicing and will report to Tim Keaney, vice chairman and CEO of BNY Mellon Asset Servicing. Replacing Sands, Samir Pandiri, previously CEO of BNY Mellon Shareowner Services, will take over as head of the Americas' Asset Servicing business and will report to him.
Lou Maiuri, previously head of outsourcing, is named as head of the Global Financial Institutions business. Maiuri takes over from Nadine Chakar who becomes global head of BNY Mellon’s Derivatives360 business. Chakar will report to Karen Peetz, vice chair and CEO of Financial Markets and Treasury Services at BNY Mellon.
“At a time of unprecedented market and regulatory change in the derivatives markets, Nadine's proven
leadership and abilities will ensure that we continue to meet the evolving needs of our clients as we expand our derivatives offerings globally,” said Peetz.
Chakar succeeds Patrick Tadie, who has been named business executive for the company's Alternative and Broker-Dealer Services businesses. She has more than 20 years of progressive experience at BNY Mellon.
Hani Kablawi is expected to become head of EMEA Asset Servicing, replacing Frank Froud who is leaving the company. Kablawi has recently acted as head of client management for the EMEA region. Replacing Kablawi will be Ian Stewart, who will oversee country management and strategic clients across the EMEA region and continue in his role as head of North America client management. Stewart will report to Jim Palermo, vice chairman and CEO of Global Client Management.
Both Maiuri and Kablawi will report to Tim Keaney. Chong Jin Leow, head of Asia Pacific Asset Servicing, will continue to report to Keaney.
Tim Keaney said, “These changes will enable us to have a more focused and streamlined approach to building our business and delivering excellent client service in a rapidly changing economic environment. Vince, Samir, Lou and Hani all have terrific experience within our company and deep knowledge of the asset servicing business.
“We are grateful to Frank for his contribution to the company and to Nadine for her leadership within the Asset Servicing business over the past decade. Both have played an important role in the successful integration of The Bank of New York and Mellon Financial following our merger in 2007, and we wish them all the best for the future.”
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