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BNY Mellon Names Charles Scharf CEO

The Bank of New York Mellon Corp. (BK) said that Charles Scharf, 52, has been appointed Chief Executive Officer and a Director of the company, effective immediately, and will become Chairman of the Board of Directors effective January 1, 2018.

Gerald Hassell, 65, will continue to serve as Chairman of the Board through December 31, 2017, working closely with Scharf to ensure a seamless transition of responsibilities.

Scharf was most recently Chief Executive Officer and a Director of Visa Inc. from October 2012 through December 2016. Before joining Visa, Mr. Scharf served as Managing Director of One Equity Partners, JPMorgan Chase & Co.'s private investment arm, and previously served as the Chief Executive Officer of Retail Financial Services, one of JPMorgan Chase's six lines of business.

Earlier in his career, he was at Bank One Corp. as Chief Financial Officer and Chief Executive Officer of the retail division, and previously at Citigroup and its predecessor companies, serving as Chief Financial Officer of the Global Corporate and Investment Bank immediately prior to joining Bank One.

by RTT Staff Writer

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