BNY Mellon CEO to step down

The Bank of New York Mellon (BNY Mellon) CEO, Todd Gibbons, is retiring in August after 36 years at the financial institution, and will be replaced by vice chair Robin Vince.

Effective immediately, Vince will serve as president and CEO-elect, working with Gibbons to ensure a “seamless” transition.

Gibbons held various roles during his tenure at the bank. He was appointed CEO in 2019, prior to which he was CFO, chief risk policy officer, and head of global treasury, among other roles.

Gibbons said: “The pandemic highlighted our important role in the global financial ecosystem as well as our resilience, and we stand today as market leader across many of our businesses.

“As I prepare to retire, I cannot think of a better person than Robin to ensure the company capitalizes on the broad range of opportunities ahead as the industry continues to evolve.”

Vince, who currently serves as vice chair of the bank, and CEO of global market infrastructure, joined Mellon in 2020, prior to which he spent 26 years at Goldman Sachs, most recently as its chief risk officer.

“Robin brings a global perspective and an exceptional understanding of capital markets, coupled with a strong commercial orientation and a wealth of experience from his various leadership roles over 26 years at Goldman Sachs,” said Joseph J. Echevarria, independent chair of the BNY Mellon board of directors.

Last year, BNY Mellon launched a business unit dedicated entirely to the digital asset space. It said at the time the unit would aim to develop solutions to help clients address growing needs related to digital asset growth, including cryptocurrencies.

At the time of the announcement, BNY Mellon – which has $46.7 trillion in assets under custody worldwide — claimed to be the first global bank to offer an integrated service for custody, administration, and trading of digital assets.