Charles W. Scharf has been named Wells Fargo chief executive officer and president, and a member of the board of directors, effective October 21. Scharf was chairman and CEO of Bank of New York Mellon.
Thomas P. (Todd) Gibbons has been appointed by the board of directors as interim chief executive officer of BNY Mellon and a member of the board, effective immediately.
According to the Securities and Exchange Commission, Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
The Bank of New York Mellon revamped its organizational and leadership structure, effective January 1, 2018. As part of the organizational restructuring, Thomas Gibbons was appointed CEO of Clearing, Markets and Client Management.
BuckleySandler appointed Heather Russell as a partner to lead the Financial Institutions Regulation, Supervision & Technology practice. She was formerly with Fifth Third, BNY Mellon and Bank of America.