Bank of NY Mellon Corp names vice chair Vince as CEO - Reuters.com

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The Bank of New York Mellon Corp. building at 1 Wall St. is seen in New York's financial district March 11, 2015. REUTERS/Brendan McDermid

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March 10 (Reuters) - Bank of New York Mellon Corp (BK.N) said on Thursday vice chair Robin Vince would become the company's chief executive officer, replacing Todd Gibbons who will retire later this year.

The former Goldman Sachs Group (GS.N) veteran, who will take over the top job after Gibbons retires on Aug. 31, was also named as president effective immediately, the bank said.

Vince joined BNY Mellon in October 2020, according to his LinkedIn profile. Prior to that, in a career spanning 26 years at Goldman Sachs, Vince held key roles including those of chief risk officer and treasurer.

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Outgoing CEO Gibbons stepped in to lead the bank on an interim basis in September 2019 when Charles Scharf left to run Wells Fargo & Co , and was appointed permanent CEO in March 2020.

Shares in BNY, which had $2.4 trillion in assets under management as of Dec. 31, have lost 10% this year as of last close, amid the economic fallout of Western sanctions on Russia following its invasion of Ukraine.

The S&P 500 financials index (.SPSY) has fallen 5.7% during the same period.

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Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri and Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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