BNY Mellon Announces Leadership Succession Plan Naming Robin Vince CEO Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. This charter will be published on the Corporation's website and the Corporation will disclose in its annual proxy statement that this charter is available on its website and provide the website address. The Committee will review with management, the General Counsel, the Chief Compliance Officer, and the Chief Audit Executive the Corporation's compliance with laws and regulations. Download image Paulus de Wilt If the Committee performs the audit committee functions for an insured depository institution subsidiary of the Corporation, the Committee will oversee the internal audit function of such subsidiary. The heads of these businesses will report to Ms. Portney from February 1, 2023. Additional information is available onwww.bnymellon.com. Ms. Portney will continue to report to BNY Mellon's CEO and serve as a member of the Executive Committee. NEW YORK, July 6, 2022 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") (NYSE: BK) announced today that Dermot McDonogh has been appointed as Chief Financial Officer ("CFO") for the company, effective February 1, 2023. Most recently, she served as Assistant General Counsel of MUFG Union Bank, and as Managing Counsel, Wealth Management at BNY Mellon/The Bank of New York Mellon. Copyright 2023 Morningstar, Inc. All rights reserved. Senthil Kumar Joins BNY Mellon as Chief Risk Officer - PR Newswire The members of our highly knowledgeable and skilled management team provide stability in leadership, averaging more than a decade each with Pershing. Follow us on Twitter @BNYMellon or visit our newsroom atwww.bnymellon.com/newsroomfor the latest company news. Mitchell E. Harris | BNY Mellon BK - Bank of New York Mellon Corp Executive - NYSE | Morningstar Develop and improve features of our offerings. BNY Mellon is a destination for top talent, and the addition of Dermot to our firm will further enhance the strength of our industry-leading team. Before joining Adams Street, she was an investment manager at Pantheon Ventures, and worked for Philips China Hong Kong Group. We go beyond to bring together clients, world class leaders and industry luminaries for an unmatched three-day experience. Paul is a strategic thinker and change agent who is passionate about improving our company. Wells Fargo merges two payments groups, hires BNY Mellon exec as leader Annually, or at other appropriate intervals, the Committee shall review and set the compensation of the Chief Audit Executive. Prior to becoming CFO in 2020, Ms. Portney led the Americas region for the Asset Servicing business as well as the client management, sales and service teams for Asset Servicing globally. The Committee shall approve compensation arrangements for non-employee members of the boards of directors of the Corporation's significant subsidiaries. A meeting of the Committee may be called by its chairman or any two members of the Committee. Work collaboratively with Corporate and divisional teams to achieve organizational objectives and ensure alignment with Bank-wide activities. Speakers | INSITE 2023 Conference - BNY Mellon James T. Crowley | BNY Mellon | Pershing This site is protected by reCAPTCHA and the Google BNYMellon. Brokerage services may be provided by Pershing Advisor Solutions LLC, member FINRA, SIPC. Successful Entrepreneur, President and Chief Executive Officer 2023 THE BANK OF NEW YORK MELLON CORPORATION, Governments, Sovereigns & Not-For-Profits. At all times, the Committee shall have access to the books and records of the Corporation and to such management and other personnel as it deems necessary or helpful in discharging its duties. Meetings of the Committee shall include separate executive sessions with the Chief Audit Executive and the Corporation's registered independent public accountants, quarterly and as needed. Run annual strategy processes and develop strategic plans for BNY Mellon Executive Committee and Board of Directors. Mr. McDonogh joins BNY Mellon from Goldman Sachs, where he has worked for over 25 years, most recently as Chief Operating Officer for EMEA and CEO of Goldman Sachs International Bank. Minutes of its meetings will be approved by the Committee and maintained on its behalf. The Bank of New York Mellon Corporation (NYSE:BK) Q1 2023 Earnings Call Annually, there shall be a performance evaluation of the Committee, which may be a self-evaluation or an evaluation employing such other resources or procedures as the Committee may deem appropriate. from 8 AM - 9 PM ET. The Committee shall report its activities to the Board on a regular basis and make such recommendations as it deems necessary or appropriate. Her first career was in the international art auction industry in New York City, Latin America and the west coast. ", Mr. Echevarria continued: "Since he joined BNY Mellon in 2020, Robin has made significant contributions to the business, and demonstrated a rigorous approach to strategy, execution and serving clients. Annually, there shall be a performance evaluation of the Committee, which may be a self-evaluation or an evaluation employing such other resources or procedures as the Committee and the Corporate Governance, Nominating and Social Responsibility Committee may deem appropriate. BNY Mellon, Senior Executive Vice President & Executive Committee Member New York City Metropolitan Area 7K followers 500+ connections Join to view profile BNY Mellon | Pershing FINRA. As part of her role with Impetus, she is Trustee of the Education Endowment Foundation (EEF), founded in 2011 by The Sutton Trust in partnership with Impetus. Annually, the Committee shall review management's report on internal control over financial reporting to be included in the Corporation's Annual Report on Form 10-K. the Corporations compliance with legal and regulatory requirements. executive offices no earlier than December 2, 2023 and no later than 5:00 p.m., Eastern time, on January 1, 2024. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). How Bank of New York Mellon Makes Money - Investopedia Prior to assuming his current role, he was the firm's international Controller. Additionally, Hanneke is the Executive Sponsor for PRISM, BNY Mellons LGBTQ+ Employee Resource Group and serves as Chair of Impetus, a venture philanthropy organization which backs charities to transform the lives of disadvantaged young people. Embrace the opportunity to expand your knowledge and your network. As an alternative to pre-approving each audit and non-audit service, the Committee may establish and disclose policies and procedures for pre-approval, provided that they meet the requirements of applicable laws and regulations. Affiliated advisory services, if offered, provided by Lockwood Advisors, Inc., an investment adviser registered in the United States under the Investment Advisers Act of 1940, and Pershing X, a technology provider. Pershing provides business-to-business solutions to clients representing over 7 million investor accounts globally. Applications are subject to approval. DAVID WALTER MILLER (Registration #2235224) is an attorney in Ny admitted in the Second Judicial Department (seated in Brooklyn) of New York State in 1989, registered with the Office of Court Administration (OCA) of New York State Unified Court System. Brian A. Ruane - CEO Government Securities, Collateral & Credit The Committee shall meet as frequently as is necessary to fulfill its duties and responsibilities, but not less frequently than three times per year. She is also the President and a Board member of BNY Mellon, N.A., the company's national bank subsidiary. Principles membership ICMA - International Capital Market Association Infurtherance of such responsibilities, the Committee has a duty to seek to preserve the safety and soundness of its national bank subsidiaries, and will exercise its oversight of any such subsidiarys audit committee matters with the understanding that suchsubsidiarys interests are not to be subordinated to the interests of the Corporation in a way as to jeopardize the safety and soundness of such subsidiary. He led BNY Mellon through the challenges and complexities of the COVID-19 pandemic safeguarding clients' assets, protecting employees, improving the resiliency of its operations, driving organic growth and efficiencies, and stewarding support for global markets and government programs. In adopting this Charter, the Board acknowledges that the Committee members are not employees of the Corporation and are not providing any expert or special assurance as to the Corporation's financial statements or any professional certification as to the work of the Corporation's independent public accountants or the auditing standards applied. Terms of Service apply. As ofMarch 31, 2022, BNY Mellon had$45.5 trillionin assets under custody and/or administration, and$2.3 trillionin assets under management. In its discretion, the Committee may delegate to one or more of its members the authority to pre-approve any audit or non-audit services to be performed by the registered independent public accountants, provided that all such approvals will be presented to the Audit Committee on a quarterly basis. Most Powerful Women in Finance: No. 6, Emily Portney, BNY Mellon Actual outcomes may differ materially from those expressed or implied as a result of risks and uncertainties, including, but not limited to, the factors identified above and th e risk factors and other uncertainties set forth in BNY Mellon's Annual Report on Form 10-K for the year endedDecember 31, 2021, the Quarterly Report on Form 10-Q for the quarter endedMarch 31, 2022and BNY Mellon's other filings with the Securities and Exchange Commission. The Committee will consist of a majority of members who are not also members of any committee to which such national bank subsidiarys board of directors has delegated power to manage and control the fiduciary activities of such national bank subsidiary. She began her career with J.P. Morgan, where she held various leadership roles across businesses and functions during her 23 years with the company. Mr. McDonogh will join the company on November 1, 2022, reporting to BNY Mellon's Chief Executive Officer ("CEO"), and he will join the Executive Committee. Read our client stories and learn about the many ways we work to make a difference in our communities and beyond. This charter will be published on the Corporation's website and the Corporation will disclose in its annual proxy statement that this charter is available on its website and provide the website address. PDF Bny Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. Part 363 for insured depository institution subsidiaries of the Corporation and may perform the functions of a fiduciary audit committee required by 12 C.F.R. Our People | Newton consider director candidates recommended by the Corporation's shareholders in accordance with the procedures set forth in the Corporation's annual proxy statement and the By-Laws; review and evaluate the succession plans for the CEO, including a plan in the event of an emergency, and, at least annually, report to the Board regarding succession planning activities and recommendations, if appropriate; implement and oversee the annual evaluation of the Board and the committees of the Board, approve the service of the Chairman and the Chief Executive Officer as directors or trustees of other institutions and organizations and approve indemnification for such service, periodically review contributions by the Corporation and any foundation established by the Corporation to director-related not-for-profit organizations for potential conflicts of interest, or the appearance thereof, annually review compliance of Directors with the Directors Code of Conduct and, in the case of management Directors, the Code of Conduct for employees, review and recommend to the Board policies regarding Director stock ownership, consider the process for the orientation and continuing education of Directors, review and receive reports on the Corporations strategic philanthropy, employee giving, and community involvement, and provide oversight with respect to the Corporations related policies, programs and strategy, oversee and receive reports on the Corporations public policy and advocacy, including lobbying and political contributions, receive and review reports on the Corporations compliance with Community Reinvestment Act ("CRA") and Fair Lending Laws, including review of CRA examination reports, Fair Lending reports provided by federal and state examiners and related internal reports provided by management, receive and review reports regarding the Corporations significant ESG programs and initiatives, including enterprise ESG strategy and ESG governance, environmental sustainability and environmental management, supply chain ESG considerations, and significant reporting with respect to such matters; and.
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