Bank of New York Mellon has announced the retirement of CEO Thomas P. (Todd) Gibbons, effective 31 August after a 36-year career with the company that saw him taking on various senior leadership roles including Chief Financial Officer and Chief Risk Policy Officer, which position he held during the 2007 merger of Bank of New York and Mellon Financial Corporation.

The BNY Mellon board has named Robin Vince, currently Vice Chair of BNY Mellon and CEO of Global Market Infrastructure, as President and CEO-elect effective 10 March. The transition period commences immediately.

Vince joined BNY Mellon in October 2020. He was previously Chief Risk Officer of Goldman Sachs, where he spent 26 years in a variety of roles including treasurer, head of operations, regional Chief Operating Officer for Europe, Middle East, and Africa, and CEO of Goldman Sachs International Bank.

Joseph J. Echevarria, Independent Chair of the Board of Directors, said that Vince's appointment was the outcome of a 'well-planned, thorough and orderly succession process'. He thanked Gibbons for strong leadership through the pandemic, saying: "[Todd] has consistently demonstrated an unwavering commitment to our clients and his colleagues and was instrumental in building BNY Mellon into the institution it is today."

Echevarria also said of Vince: "Since he joined BNY Mellon in 2020, Robin has made significant contributions to the business, and demonstrated a rigorous approach to strategy, execution and serving clients. In addition to his BNY Mellon experience, Robin brings a global perspective and an exceptional understanding of capital markets, coupled with a strong commercial orientation and a wealth of experience from his various leadership roles over 26 years at Goldman Sachs. This, together with the trust and respect Todd has for him, gives us great confidence that Robin is the right person to steer BNY Mellon through its exciting next chapter of history. The Board will support Robin, Todd and the entire Executive Committee as they work closely together to ensure a seamless handover in the coming months."