Retains role as CEO of BNY Mellon's Depositary Receipts business
LONDON, July 21, 2011 — BNY Mellon, the global leader in investment management and investment servicing, has announced the appointment of Michael Cole-Fontayn as its new Chairman of Europe, Middle East & Africa (EMEA).
The EMEA region represents 26% of global revenues(1) and employs 10,000 staff across 16 countries.
As Chairman of EMEA, Cole-Fontayn will lead the regional management team in executing the company's strategic plans and accelerating growth across this key region. He will retain his existing role and responsibilities as Chief Executive Officer, Depositary Receipts at BNY Mellon. Cole-Fontayn takes over the role of chairman from Tim Keaney, CEO of BNY Mellon Asset Servicing. Keaney is moving to New York, where he will continue to lead the asset servicing business globally.
Gerald Hassell, President of BNY Mellon, said: "The expansion of our international businesses is key to our company's ongoing success. We continue to see many exciting opportunities in EMEA, and we are well placed to capitalise on the momentum we have gained in the region. We continue to gain market share and benefit from our recent acquisitions of Insight Investment Management in the UK, BHF Asset Servicing in Germany and PNC's Global Investment Servicing business. Michael brings many years of experience and strong international credentials to his new role, and is the ideal candidate to build upon Tim Keaney's many achievements as chairman."
Cole-Fontayn joined BNY Mellon in 1984 and has worked within the Depositary Receipts business since 1992. He ran BNY Mellon's Issuer Services Group in Hong Kong between 1993 and 2000. He is a member of BNY Mellon's Executive Committee and Global Operating Committee.
(1) As at 31/12/10
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com and through Twitter @bnymellon.
This press release is issued by The Bank of New York Mellon to members of the financial press and media. All information and figures source The Bank of New York Mellon unless otherwise stated as at June 30, 2011. The Bank of New York Mellon, London Branch, registered in England and Wales with FC005522 and BR000818 Branch office: One Canada Square, London E14 5AL Authorised and regulated in the UK by the Financial Services Authority. Authorised and regulated by the Dubai Financial Services Authority.