BNY Mellon Introduces Global Financial Institutions Group

July 6, 2010 ( - BNY Mellon Asset Servicing has established a new Global Financial Institutions (GFI) group focused on supporting the future needs and growth plans of clients and prospects in the banking, mutual fund, and insurance sectors.

The new GFI group will be led by Nadine Chakar, formerly Head of Europe, Middle East and Africa (EMEA) Asset Servicing. She will continue to report to Jim Palermo and Tim Keaney, co-CEO’s of BNY Mellon Asset Servicing.

According to a press release, within the new GFI group, Steve Wynne, formerly CEO of PNC Global Investment Servicing, will become CEO of US Funds Services. Nancy Wolcott, formerly President of PNC Global Investment Servicing, takes on the role of Head of US Funds Services.

In addition, Lou Maiuri, currently Global Head of Outsourcing at BNY Mellon Asset Servicing and Chairman of Eagle Investment Solutions, takes on an expanded role as Head of US Financial Institutions (which encompasses investment managers, insurance companies and banks) within the new GFI group.

Frank Froud, formerly Head of Client Management for the United States at BNY Mellon, returns to London to replace Chakar as the new Head of EMEA Asset Servicing. 

“Post-crisis, financial institutions around the world are facing unprecedented change. They are accordingly re-evaluating their business models to ensure they are aligned with the opportunities and priorities now presenting themselves. The creation of our GFI group in conjunction with our acquisition of the PNC Global Investment Servicing business, as well as our anticipated acquisition of BHF Asset Servicing in Germany, enhances our position as a premier partner to our financial institutions clients as they seek to take full advantage of the burgeoning global recovery,” Palermo said in the announcement.