BNY Mellon streamlines organisation

Stream

BNY Mellon, a global leader in investment management and investment services, announced today that it has streamlined its organization to advance the company's position as the investments company for the world, better serve its clients and improve financial performance.

Curtis Arledge, currently Vice Chairman and CEO of Investment Management, will add to his responsibilities the oversight for a newly formed BNY Mellon Markets Group, effective immediately. The BNY Mellon Markets Group will bring together Global Markets, Global Collateral Services and Prime Services. Kurt D. Woetzel, head of Global Collateral Services, has been named President of BNY Mellon Markets Group, effective immediately, and will report to Arledge. Mitchell Harris will continue to serve as President of Investment Management and report to Arledge. Arledge continues to report to BNY Mellon Chairman and Chief Executive Officer Gerald L. Hassell.

Brian Shea, President of Investment Services, will become Vice Chairman and CEO of Investment Services, in addition to his role as Head of Client Service Delivery and Client Technology Solutions. Shea, whose appointment is also effective immediately, will report to Hassell.

Karen Peetz will continue as President of BNY Mellon, leading Global Client Management, Regional Management and Treasury Services. Peetz reports to Hassell.

"This strategic realignment is about delivering to our clients the most innovative services and solutions available in the market, effectively and efficiently," said Hassell. "Curtis and Brian are outstanding, highly experienced leaders and I look forward to working with them to drive value for all of our stakeholders."

Tim Keaney, Vice Chairman and CEO of Investment Services, announced he will be leaving the company to pursue other opportunities on September 30.

Brian Rogan, Vice Chairman and Chief Risk Officer, and Art Certosimo, CEO of Global Markets, announced they plan to retire at year end.

"Tim, Brian Rogan and Art 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, and for their help in ensuring that our realignment takes place as smoothly as possible." Hassell noted that the company has begun a search for Rogan's successor as Chief Risk Officer.

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