BNY Mellon Names Charles W. Scharf as CEO

Bank of New York Mellon Corporation hired Charles W. Scharf as its new chief executive officer. Scharf is joining immediately and will become chairman of the bank effective January 1, 2018. Gerald L. Hassell will continue to serve as chairman until his retirement at the end of December. Hassell has served as BNY Mellon’s CEO and chairman since 2011.

BNY Mellon had fended off an activist investor group led by Trian Partners who pressured the bank to changes strategies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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