MONEY MANAGEMENT

BNY Mellon combines 3 units into new group

Bank of New York Mellon (BK) on Tuesday announced it had combined its global collateral services, global markets and prime services units into a new group, BNY Mellon Markets Group, to be overseen by Curtis Arledge, vice chairman and CEO of investment management, spokesman Kevin Heine said.

Kurt D. Woetzel, CEO of global collateral services, was named president of the group and will report to Mr. Arledge. Mitchell Harris will continue to serve as president of investment management.

Brian Shea, president of investment services, will become vice chairman and CEO of investment services, and head of client service delivery and client technology solutions. Mr. Shea will report to Gerald Hassell, chairman and CEO of Bank of New York Mellon and replace Tim Keaney, who will leave the company on Sept. 30 to pursue other opportunities. Also, Brian Rogan, vice chairman and chief risk officer, and Art Certosimo, CEO of global markets, plan to retire at the end of the year.

BNY Mellon global collateral services is the firm's asset servicing business; global markets is its foreign exchange and trading unit, and prime services is the company's prime brokerage business.