BNY Mellon Agents $800MM Term Loan for Grupo Gerdau

Grupo Gerdau secured a $800 million credit facility. BNY Mellon served as administrative agent for the transaction.

Wells Fargo Names Scharf CEO and President

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.

Gibbons Named Interim CEO of BNY Mellon, Replacing Scharf

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.

SEC Fines BNY Mellon $54MM+ for Improper ADR Handling

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.

BNY Mellon Launches New Leadership Structure

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.

BNY Mellon’s Pershing Appoints Crowley as COO

BNY Mellon’s Pershing, a provider of global financial business solutions, named Jim Crowley chief operating officer.

Former Fifth Third Attorney Joins BuckleySandler

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.

BNY Mellon Markets Appoints Murray COO

BNY Mellon hired Piers Murray as chief operating officer of the Markets business, effective June 15, 2016.

BNY Mellon Names Harris CEO of Investment Management Business

Mitchell Harris was named BNY Mellon chief executive officer of Investment Management business, effective immediately.

Commerzbank Sues BNY Mellon, Wells Fargo, Others over Mortgage Losses

Reuters reported Commerzbank has sued four banks in the U.S. claiming they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the lender before the 2008 financial crisis.