Steve James has been appointed Head of UK Trustee and Depositary Services at ABN AMRO Mellon Global Securities Services B.V. . James has worked in the trustee and depositary arena for over a decade, and joined ABN AMRO Mellon in mid-2004 from Citigroup.
James takes over the role from John Morris, who will be retiring in April 2007 after 40 years in the custody business. Morris joined ABN AMRO Mellon in April 2004 with a specific remit to set up a trustee and depositary operation within the bank. “It was always understood that my tenure as Head of UK Trustee and Depositary Services would only run for a three year period, and I am delighted to hand over the reins to Steve, with whom I have worked closely for most of that time,” says Morris.
Morris says his three key objectives when he took on the newly created role in 2004 were now complete. “The first steps were to establish what was a new business line for the bank in terms of processes and risk management, and also to create an experienced team to take that business forward,” he says. “The third goal was to carve out a credible service in what is a very concentrated market – and with 10 clients now signed up, that objective has also been achieved.”
Steve James adds that he looks forward to “working with the strong and dedicated team we now have in place to build on our recent successes, and to grow our market share while maintaining our focus on quality, technology, support and advice to our clients.”
Nadine Chakar, CEO at ABN AMRO Mellon, wished Morris well in his retirement. “Over the course of his long career he has made a significant contribution to the trustee and custody industry, and it is thanks to John’s strong leadership that ABN AMRO Mellon today has such a robust and successful trustee and depositary offering,” she says. “I have every confidence that Steve will now take the business on to new heights as we look to further consolidate our presence in this key UK market segment.”