Bank of New York Mellon Names Karen Peetz as President

Bank of New York Mellon Corp., the world’s largest custody bank, named Karen B. Peetz president, a title previously held by Chief Executive Officer Gerald L. Hassell.

The New York-based bank also named Timothy F. Keaney chief executive officer of investment services and Brian T. Shea president of investment services. All three executives have been with the bank for more than a decade and will continue to report to Hassell, BNY Mellon said in a statement today.

“Together they will join me and our entire management team as we focus on enhancing revenue growth across all economic cycles,” Hassell said in the statement.

Peetz, currently vice chairman and chief executive officer of financial markets and treasury services, joined the bank in 1998. Before that she spent 16 years with New York-based JPMorgan Chase & Co. in a variety of roles.

BNY Mellon has $28 trillion of assets under custody and manages $1.4 trillion.

To contact the reporter on this story: Charles Stein in Boston at cstein4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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