Proven leaders will be instrumental to growth of issuer services and alternative investment businesses
NEW YORK, May 10, 2017 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, announced today that Frank La Salla has been appointed Chief Executive Officer of its Corporate Trust business and will report to Brian Shea, Vice Chairman of BNY Mellon and Chief Executive Officer of Investment Services, effective May 23, 2017. La Salla, who currently serves as CEO of BNY Mellon's Alternative Investment Services (AIS) and Structured Products, succeeds Eric Kamback, who is retiring after 36 years with the company.
In his new position as CEO of Corporate Trust, La Salla will build on the strategic investments in the Corporate Trust platform to deliver superior solutions for clients and extend BNY Mellon's leadership position in this important business.
"Frank is a client- and market-driven leader with a proven track record of execution. Under Frank's leadership, we have made strategic platform investments in the real estate fund administration, exchange traded fund (ETF) services, and hedge fund administration businesses, strengthening our client value proposition and enhancing our growth potential," said Shea. "His international experience and industry knowledge will be instrumental in serving our clients well and positioning the Corporate Trust business for the next phase of its growth."
La Salla, a 23-year veteran of BNY Mellon, joined the company following the acquisition of BHF Securities Corporation. After several years as president and COO of BNY Global Clearing, he successfully led Pershing LLC's global client group for over a decade and served as a member of Pershing's executive committee.
Chandresh Iyer, Global Head of BNY Mellon's Middle Office Solutions Group, has been appointed CEO of AIS and Structured Products, succeeding La Salla. Iyer will report to Samir Pandiri, CEO of Asset Servicing.
As CEO of AIS and Structured Products, Iyer will continue to build the company's real estate administration services and ETF services, while extending middle office solutions to our hedge fund administration clients.
"Chandresh brings an extensive asset and alternative servicing background to the AIS team, having spearheaded significant improvements to our asset manager, asset owner and hedge fund middle office solutions business," Pandiri added.
Iyer joined BNY Mellon two years ago from Citi's Investor Services business, where his responsibilities included asset servicing across various client segments. Prior to Citi, he was at Merrill Lynch where he supported institutional equity technology with strategic project and program management across large-scale initiatives in client management, clearing and prime brokerage.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
SOURCE BNY Mellon