(Reuters) – Bank of New York Mellon’s Chief Executive Robert Kelly stepped down in a surprise move, because of what the company said was “differences in approach to managing the company.”
BNY Mellon, one of the largest trust and custody banks, did not elaborate on why Kelly, 57, was stepping down. The bank did say the decision was a mutual agreement with the bank’s board. A biography still posted on BNY Mellon’s website noted that Kelly “was named one of America’s Best CEO’s for 2009″ by Institutional Investor magazine.
Gerald Hassell, BNY Mellon’s 59-year-old president, is taking over as chairman and chief executive. He has been with BNY Mellon and before that Bank of New York for three decades.
Full story: BNY Mellon CEO Kelly steps down | Reuters.