BNY Mellon, continuing its strategic transformation within Investment Services, has created a new Americas Asset Servicing organization. The new group will be led by Dan Smith and brings together the firm’s U.S. Asset Servicing, Latin America Asset Servicing, CIBC Mellon, and HedgeMark businesses. Previously, Smith was head of Strategic Planning and Initiatives for Investment Services. He will report to Samir Pandiri, Executive Vice President and Global CEO of Asset Servicing.
“Our commitment to delivering innovative, effective solutions to our clients entails a continual assessment of how we’re aligned. Optimizing this alignment is key to achieving our goals of being the highest value provider of investment services globally and a recognized leader in technology and service quality,” said Pandiri. “Dan Smith brings a deep knowledge of our asset servicing business and a strong history of leading transformational efforts. As such, he’s perfectly positioned to take on this important new role.”
As part of the company’s strategy to streamline its technology offerings, its Global Risk Solutions business and the technology team at HedgeMark also will now be brought together under BNY Mellon Technology Solutions. Led by CEO John Lehner, the group was recently formed to deliver market-leading client technology solutions that generate high value and recurring-fee revenue growth. Deb Baker, Head of Global Risk Solutions, and Kavi Kumarakurubaran, Head of HedgeMark Technology, will report to Lehner.
Pandiri added, “There’s significant benefit in fully aligning our technology capabilities to serve clients with similar needs – be they traditional or alternative fund managers, pension plans, or insurance companies. We can leverage knowledge from across BNY Mellon to bring a sharper focus in helping these institutions deal with the market and regulatory changes that are reshaping our business.”
Other organizational changes are part of the restructuring. Daron Pearce, Global Lead, Investment Managers Segment, will take on additional leadership for the Insurance Segment. Also, to enhance business development efforts and create greater value for asset servicing clients, the role of Global Head of New Business Development has been split into two new regional positions – Head of Relationship Development for the Americas (Canada, U.S., and Latin America) and Head of International Relationship Development (EMEA and Asia). An internal and external search is under way for both roles.
George Gilmer, current Head of U.S. Asset Servicing, has announced his intention to leave BNY Mellon at the end of October to pursue personal interests. Marina Lewin, current Global Head of New Business Development for Asset Servicing, has announced that she’ll leave the company at year-end to pursue external opportunities.
“We would like to recognize and deeply thank George and Marina for their extensive contributions to our investment services business over many years with the firm. We wish them all the best in their future endeavors,” added Pandiri.
BNY Mellon's Asset Servicing business supports institutional investors in today's fast-evolving markets, safeguarding assets and enhancing the management and administration of client investments through services that process, monitor and measure data from around the world. We leverage our global footprint and local expertise to deliver insight and solutions across every stage of the investment lifecycle.