BNY Mellon just reorganized the leadership for its asset servicing businesses, including U.S. fund services. MFWire.com has learned that two executives now oversee U.S. fund services in Nancy Wolcott stead.

Spokesman Mike Dunn confirmed that U.S. fund services business for larger clients now reports to Lou Maiuri while smaller market business reports up to Samir Pandiri. Wolcott, Dunn added, now serves as head of global financial institution service delivery, reporting to global operations and service delivery chief Andy Bell.

Maiuri, formerly head of outsourcing, took over the global financial institutions business as part of today's reorg. Pandiri previously led BNY Mellon shareowner services as CEO and now leads the asset servicing business in the Americas.

Wolcott took over U.S. fund services a year ago after the departure of U.S. fund services CEO Steve Wynn [see MFWire.com, 2/15/2011].

As for the rest of the asset servicing reorg, former Americas asset servicing chief Vince Sands now serves as deputy CEO of asset servicing, reporting to asset servicing CEO and vice chairman Tim Keaney. Former global financial institutions chief Nadine Chakar now leads the firm's Derivatives360 business, reporting to financial markets and treasury services CEO and vice chairman Karen Peetz,

Maiuri reports to Keaney, while Pandiri reports to Sands.

Acting EMEA -- Europe, the Middle East and Africa -- asset servicing chief Hani Kablawi succeeds the departing Frank Froud as head of EMEA asset servicing.

Company Press Release

NEW YORK, Jan. 19, 2012 -- BNY Mellon, the global leader in investment management and investment services, today announced a reorganization of its Asset Servicing management team.

Vince Sands is named as deputy CEO of BNY Mellon Asset Servicing reporting to Tim Keaney, Vice Chairman and Chief Executive Officer of BNY Mellon Asset Servicing.

Samir Pandiri, previously CEO of BNY Mellon Shareowner Services replaces Mr Sands as Head of the America's Asset Servicing business and will report to him.

Lou Maiuri, previously head of outsourcing is named as head of the Global Financial Institutions business.

Maiuri takes over from Nadine Chakar who becomes Global Head of BNY Mellon's Derivatives360(sm) business. Chakar will report to Karen Peetz, Vice Chairman and Chief Executive Officer of Financial Markets and Treasury Services at BNY Mellon.

Hani Kablawi is named as Head of EMEA Asset Servicing*, replacing Frank Froud who is leaving the company. Kablawi has recently acted as head of Client Management for the EMEA region.

Both Maiuri and Kablawi will report to Tim Keaney. Chong Jin Leow, Head of Asia Pacific Asset Servicing, will continue to report to Keaney.

Tim Keaney said: "These changes will enable us to have a more focused and streamlined approach to building our business and delivering excellent client service in a rapidly changing economic environment. Vince, Samir, Lou and Hani all have terrific experience within our company and deep knowledge of the asset servicing business. We have excellent bench strength in our management team, and I am looking forward to working with all of them to design and deliver the best and most innovative solutions and services to our clients around the world.

"We are grateful to Frank for his contribution to the company and to Nadine for her leadership within the Asset Servicing business over the past decade. Both have played an important role in the successful integration of The Bank of New York and Mellon Financial Corp. following our merger in 2007, and we wish them all the best for the future."

*Subject to regulatory approvals.

BNY Mellon Asset Servicing offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services.

Derivatives360 comprises a broad array of offerings for issuers and investors involving the execution and processing of derivatives. These include trading and execution, derivatives middle office outsourcing services and back-office recordkeeping services. Middle Office services available through Derivatives360 include collateral management, affirmation and confirmation, independent (third-party) valuation, portfolio reconciliation and lifecycle event management. Back-office recordkeeping services include custody, accounting, cash collateral reinvestment and consolidated reporting.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.8 trillion in assets under custody and administration and $1.26 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at www.bnymellon.com and through Twitter @bnymellon.

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