Bank of New York Mellon Chief Executive Todd Gibbons is retiring after about three years at the top job and 36 years at the institution. He will be succeeded in late summer by Robin Vince, a former Goldman Sachs executive.
“Today’s announcement is the culmination of the board and Todd’s well planned, thorough and orderly succession process to ensure continuity of leadership and BNY Mellon’s continued success,” Chairman Joseph Echevarria said in a prepared statement.
BNY Mellon essentially serves as Wall Street’s vault by keeping track of who owns securities or is trading them. Heading into today its stock returned just 8% over the last five years while
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