BNY Mellon has appointed Daniel J. Smith as chief administrative officer for the Asia-Pacific region. Smith, a 23-year veteran of BNY Mellon, was previously chief administrative officer of Asset Servicing.
Paul Adamo, previously chief of staff to Asset Servicing CEOs Tim Keaney and Jim Palermo, will replace Smith as CAO of Asset Servicing.
James Slater has also been appointed to the new position of chief operating officer for global securities lending.
Smiths predecessor, Lee Stephens, has moved back to the U.S. to take up a senior business development role in BNY Mellon’s Washington, D.C. office.
In an announcement in February, Keaney claimed that the banks Asia business will double over the next five years.
BNY Mellon placed 6th in the Asia region in the 2009 Global Custodian Global Custody Survey, and although BNY Mellon has recently opened a new office in Beijing, it has some way to go before catching the dominant players of Citi, HSBC and Standard Chartered.
James Slater was previously senior vice president at CIBC Mellon, in charge of global securities lending, treasury and cash management operations.
He will report to Kathy Rulong, executive director of Global Securities Lending.
Securities lending has undergone a fundamental transformation the past three years, and James wealth of experience will help BNY Mellon continue to strengthen its lending program while we meet our clients and borrowers changing needs, said Rulong. The new COO position will further the steps weve already taken to introduce best practices, improve operating efficiency, and leverage BNY Mellons extensive global presence and product capabilities. James will be a tremendous asset to me and our worldwide team.