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BNY Mellon appoints ex-Visa head Charles Scharf as CEO

First Published 18th July 2017

Charles W. Scharf appointed CEO and a director of BNY Mellon effective immediately; to become Chairman on 1/1/18.

Charles W. Scharf, BNY Mellon

Charles W. Scharf, BNY Mellon

New York - The Bank of New York Mellon has announcedthat Charles W. Scharf, 52, has been appointed Chief Executive Officer and a Director of the company, effective immediately, and will become Chairman of the Board of Directors effective January 1, 2018. Gerald L. Hassell, 65, will continue to serve as Chairman of the Board through December 31, 2017, working closely with Mr. Scharf to ensure a seamless transition of responsibilities.

Mr. Scharf was most recently Chief Executive Officer and a Director of Visa Inc. from October 2012 through December 2016 Before joining Visa, Mr. Scharf served as Managing Director of One Equity Partners, JPMorgan Chase & Co.'s private investment arm, and previously served as the Chief Executive Officer of Retail Financial Services, one of JPMorgan Chase's six lines of business.

Charles W. Scharf said: "I have long admired BNY Mellon and believe there is great opportunity to build on the momentum Gerald and the team have created. We will continue to put our clients first, remain a strong and trusted partner, and continue on our journey of defining ourselves as the premier technology platform our clients turn to for our capabilities, advice and leadership."