Gerald L. Hassell on Wednesday was named chairman and CEO of Bank of New York Mellon.
Mr. Hassell has been the company's president since 1998, a title he will retain, confirmed R. Jeep Bryant, a BNY Mellon spokesman.
Mr. Hassell replaces Robert P. Kelly, who resigned Wednesday “by mutual agreement with the board of directors,” according to a news release from the company, which cited “differences in approach to managing the company,” as the reason for his departure.
Mr. Bryant declined to elaborate on Mr. Kelly's departure; Mr. Kelly could not be reached for comment.
Mr. Bryant said “one of the good things” about Mr. Hassell's new position is that “he represents continuity” for the bank. He said no changes are planned for the bank's global custody business or for its $1.3 trillion investment management division.
“Over the course of his more than three-decade tenure with BNY Mellon and its predecessor company, The Bank of New York, Gerald has led nearly every major division of the company,” Wesley W. von Schack, lead director of BNY Mellon, said in the news release.
“As the executive currently overseeing our investment services and our global client management function, and given his extensive and long-standing relationships with investment management clients, Gerald is exceptionally well suited to ensure BNY Mellon maintains and strengthens its role as a global market leader.”
