BNY Mellon Names Thomas Gibbons as Permanent CEO

The Bank of New York Mellon Corporation, better known as BNY Mellon, on Monday named Thomas Gibbons as its permanent chief executive officer (CEO).

He was already serving the banking giant as its interim CEO since last September following the departure of Charles Scharf from the apex position to head Wells Fargo.

“We are excited to appoint Todd as our Chief Executive Officer, a role he has performed exceptionally on an interim basis,” Joseph Echevarria, chairman at BNY Mellon’s board, said.

“The Board conducted a comprehensive search process over a number of months, and we concluded he is the right person for the job. Todd is an accomplished and respected leader who is well known to all of our stakeholders, with a deep connection to the company and its client base. He has a tremendous understanding of what's needed to drive the company's success in the future, and we look forward to continuing to work with him.”

Dedicating entire career to a bank

Gibbons started his career at the New York-headquartered bank and has been associated with it for the last 34 years, slowly climbing the corporate ladder to the apex position.

Before taking the interim responsibility, he was heading the Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term, markets, and client management for the bank — the wing bringing half of the bank’s revenue, the official press release highlighted.

He also served as the chief financial officer at BNY Mellon for 12 years and its chief risk policy officer for another six years.

“We are the trusted stewards of our clients' businesses, and I look forward to working with the Board and leading our nearly 50,000 talented employees as we continue to evolve our great company,” Gibbons said.

“We will build on our strong foundation to continue to drive improved performance and innovation across BNY Mellon while also delivering on our promise to our clients, shareholders, and employees.”