BNY Mellon Streamlines Organization To Improve Financial Performance

(RTTNews) - Investment management and services provider BNY Mellon, the corporate brand of The Bank of New York Mellon Corp. (BK), Tuesday said it has streamlined its organization to better serve its clients and improve financial performance.

As a result, Curtis Arledge, currently Vice Chairman and CEO of Investment Management, will add to his responsibilites, the oversight for a newly formed BNY Mellon Markets Group, effective immediately.

The BNY Mellon Markets Group brings together Global Markets, Global Collateral Services and Prime Services.

Kurt Woetzel, head of Global Collateral Services, has been named President of BNY Mellon Markets Group, effective immediately. He will report to Arledge.

Mitchell Harris will continue to serve as President of Investment Management and report to Arledge. Arledge continues to report to BNY Mellon Chairman and Chief Executive Officer Gerald Hassell.

Brian Shea, President of Investment Services, will become Vice Chairman and CEO of Investment Services, in addition to his position as Head of Client Service Delivery and Client Technology Solutions. Shea, whose appointment is also effective immediately, will report to Hassell.

Karen Peetz will continue as President of BNY Mellon, leading Global Client Management, Regional Management and Treasury Services. Peetz reports to Hassell.

BK closed down 0.4 percent at $35.97 on Tueday.