BNY Mellon has hired Bank of America’s senior global markets and banking technology expert to a new chief operating officer role, as it focuses on revamping its technology platforms.
Nancy Reyda joins as COO for technology, where she will be responsible for streamlining the global custodian’s technology operating model, leading the strategic planning process, managing technology investments, and strengthening its technology risk and control framework and culture.
Reyda was most recently Bank of America’s COO for global markets technology and has served in senior technology and business roles at Deutsche Bank, Goldman Sachs and Barclays Capital.
“Nancy brings extensive experience in helping financial services institutions set their strategic technology direction, simplify their operating models, and manage technology risk and controls. She will strengthen our technology foundation to support evolving business, enterprise and client needs and ensure a strong risk culture,” said Bridget Engle, chief information officer, BNY Mellon.
In addition, BNY Mellon has appointed Joseph Sieczkowski head of technology architecture and data. He joins from TIAA where he was previously chief architect, where he built a global data analytics platform and led a multi-year project in turning its data into a strategic asset.
“Our goal is to design and implement data strategies that use advanced techniques to drive business outcomes that matter,” added Engle.
“Joe will play an integral role in helping BNY Mellon reinvent the way we use data to reduce risk, increase resiliency and enable innovative services.”
The new hires follow the recent statement from BNY Mellon’s new CEO, Charles Scharf, on doing away with manual custody processes still carried out at certain sectors of the bank.
At its investor day he pledged to spend an extra $300 million on its technology budget, with three quarters of that budget to be used on its operating model and cyber security.