Thomas S. Monahan, president and CEO of CIBC Mellon, will retire at the end of the year.
No successor has been named. A transition plan is being created to find a replacement for Mr. Monahan, CIBC Mellon said in a news release.
Mr. Monahan has been with the firm, a Canadian custodial joint venture between Canadian Imperial Bank of Commerce and Bank of New York Mellon, since 2009.
CIBC Mellon has C$1.6 trillion ($1.24 trillion) in assets under custody and administration as of March 31, said Brent Merriman, CIBC Mellon spokesman.
