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Bank of New York Mellon Corp appoints former Visa boss Charles Scharf as its new CEO

Monday, July 17, 2017 6:41
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The Bank of New York Mellon Corp (NYSE:BK) has announced the appointment of former Visa Inc CEO, Charles Scharf as its new chief executive with immediate effect.

Scarf, who has also worked at J.P. Morgan Chase & Co (NYSE:JPM), Bank One and Citigroup Inc (NYSE:C), will take over as the bank’s chairman as well with effect from 1 January 2018.

In a statement, the company said that its current CEO Gerald Hassell will remain chairman of the board through to December 31, 2017 to ensure a smooth transition.

In early New York trading, BNY Mellon shares were up 2.2% at US$53.50.

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