26 June 2014
New York
Reporter: Tammy Facey

BNY Mellon creates markets group

BNY Mellon is merging key businesses ahead of the departure of three executives.

The firm’s global markets, global collateral services and prime services businesses will merge together under the newly formed markets group, and will be led by CEO of investment management, Curtis Arledge.

Kurt Woetzel, head of global collateral services, has become president of BNY Mellon’s markets group and will report to Arledge.

Arledge will to report to BNY Mellon chairman and CEO Gerald Hassell, as will Brian Shea, the president of investment services, who will become vice chairman and CEO of investment services.

Shea will also continue in his role as head of client service delivery and client technology solutions.

Hasell said: “This strategic realignment is about delivering to our clients the most innovative services and solutions available in the market, effectively and efficiently."

Tim Kearney, vice chairman and CEO of investment services, will say goodbye to BNY Mellon on 30 September. He is leaving to pursue other interests.

Brian Rogan, vice chairman and chief risk officer, and Art Certosimo, CEO of global markets, will also be leaving BNY Mellon at the end of the year. They plan to retire.

"Kearney, Rogan and Certosimo have each made extraordinary contributions to our company over their careers and they have been instrumental in making BNY Mellon the global leader it is today," said Hassell.

"I am grateful for their partnership and insights.”

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