DiNardo Had Led Business's Product Development and Project Management
NEW YORK, June 23, 2011 — BNY Mellon Asset Servicing, the global leader in investment services, has named David DiNardo chief operating officer of its securities lending business and Robert Chiuch managing director in the securities lending business, with responsibility for leading the U.S. equity and corporate securities lending team.
DiNardo, who reports to James Slater, global head of securities lending, is responsible for implementing strategic initiatives, coordinating the key functions of the business, and directing the risk and compliance requirements of securities lending.
DiNardo had been a managing director in the group with responsibility for product development and project management. He succeeds Slater, who recently became BNY Mellon's global head of securities lending.
"David DiNardo has done an outstanding job in coordinating our efforts to bring new technology to BNY Mellon's clients, resulting in better service in a wide range of areas including trading, reinvestment and reporting," Slater said. "In his new position, he will play a key role in identifying opportunities for continuing improvements in our operations and further enhancing the experiences of our clients."
DiNardo joined BNY Mellon's securities lending business in 1994 and started in operations then quickly moved into the systems and technology group. He was named manager of that group in 1997. He was awarded bachelor's degrees in finance and mathematical economics by John Carroll University and an MBA and master's degree in information systems by the University of Pittsburgh.
Chiuch, who also reports to Slater, had been co-head of global securities lending at CIBC Mellon, a leading provider of financial services for institutions and corporations that is jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. He will be based in New York.
"Robert Chiuch has demonstrated strong leadership in building the global securities lending business at CIBC Mellon," said Slater. "His knowledge of the business and his depth of experience will prove invaluable as we grow BNY Mellon's securities lending operations."
Chiuch, who has 23 years of experience in securities lending, joined CIBC Mellon when the company was formed in 1996. Previously, he worked for CIBC and National Bank Financial. He received his MBA from the University of Western Ontario's Richard Ivey School of Business. He is president of the Canadian Securities Lending Association.
BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities including custody and fund services, securities lending, performance and analytics, and execution services.
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 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.