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BNY Mellon Replaces Kelly as CEO After Rift With Board

Bank of New York Mellon Corp., beset by legal challenges and an underperforming stock, said Chairman and Chief Executive Officer Robert P. Kelly left after a dispute with directors over the way he ran the company.

Kelly, 57, who had led the world’s biggest custody bank since 2007, left by “mutual agreement” with the board, the company said yesterday in a statement. His successor is Gerald L. Hassell, 59, who has been president of New York-based BNY Mellon since 1998.