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Ex-BNY Capital Markets Head Says He Was Fired in Age `Purge'

  • Gary Strumeyer sues bank claiming age discrimination
  • Former executive says bank was looking for ‘young talent’
Updated on

A former president of Bank of New York Mellon Corp.’s broker-dealer subsidiary said he was fired last year as part of a "purge" of the bank’s older managers.

Gary Strumeyer, 56, sued BNY Mellon in Manhattan federal court claiming age discrimination and retaliation. He said he was fired in September after 32 years at the bank, beginning as a 23-year-old trainee and worked his way to the presidency of BNY Capital Markets where he supervised 150 employees. He was in charge of fixed-income and equity sales, trading and underwriting before his dismissal.