Reporting to Karen Peetz, vice chairman and chief executive officer of BNY Mellon's Financial Markets and Treasury Services division, Chakar succeeds Patrick Tadie, who has been named business executive for the company's Alternative and Broker-Dealer Services businesses.
Chakar, with more than 20 years of progressive experience within BNY Mellon, was most recently the head of the Global Financial Institutions group within the Asset Servicing business.
'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.
Since joining the company in 1989, Chakar has held a variety of senior management positions at BNY Mellon, including as executive vice president and head of the Europe, Middle East and Africa region for the company's Asset Servicing division. She also served as chair of the Executive Committee of The Bank of New York Mellon SA/NV, headquartered in Brussels, and chair of the Supervisory Board of BNY Mellon Asset Servicing B.V., headquartered in Amsterdam. She also managed the successful joint venture between Mellon Financial and ABN Amro Bank.
Derivatives360 includes trading and execution, derivatives middle office outsourcing services and back-office recordkeeping services. Middle Office services available through Derivatives360 include collateral management, affirmation and confirmation, independent (third-party) valuation, portfolio reconciliation and lifecycle event management. The company's back-office recordkeeping services include custody, accounting, cash collateral reinvestment and consolidated reporting.
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