Phil Zywot was named managing director of securities finance at Bank of New York Mellon's global collateral services business.
The position is new. Mr. Zywot will be responsible for Canadian securities lending. He will be based in Toronto and report to Robert Chiuch, managing director and global head of equity finance at BNY Mellon.
Mr. Zywot was vice president and head of trading on the securities lending desk of CIBC Mellon, a joint venture of BNY Mellon and Canadian Imperial Bank of Commerce. In October, CIBC Mellon's securities lending trading desk was integrated with those of BNY Mellon. Mr. Zywot's former position was eliminated as part of the integration, said Brent Merriman, spokesman for CIBC Mellon.