logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Billionaire entrepreneur Elon Musk on Thursday showed off his concept for the Loop, a high-speed underground public transportation system that will carry up to 16 people and travel at 150 miles per hour. At the Boring Company Information Session, Musk and project leader Steve Davis provided details of the underground mass transit tunnels that the Boring Co. plans to build beneath Los Angeles. Raden has become the second smart luggage company to shut down this month after major U.S. airlines banned smart luggage with non-removable batteries earlier this year. In a statement on its website, Raden said that it is no longer in operation and that all existing shipments have been processed for delivery. The company is shuttering after three years of operation. Shares of AstraZeneca were losing around 2 percent in the London trading after the British drug major reported Friday lower profit in its first quarter amid weak margin, despite growth in product sales. Further, the company reiterated its outlook for fiscal 2018. The level of Externalisation Revenue, divestment timing and investment in launches impacted the overall results.
Follow RTT