Rob Coxon has left his role as head of International Lending in the securities lending team at BNY Mellon, Global Custodian has learned. His departure follows the reorganization of the securities lending management team as it adopts a globally focused business model to further support lenders and borrowers as they take a more global approach to securities lending.
This new structure replaces the existing regional model, which broadly split the business along U.S. and non-U.S. lines. Securities lending trading will be organized along global lines with Robert Chiuch assuming a new role as global head of Equity Trading, reporting to James Slater, global head of Securities Lending. Chiuchs direct reports include: Simon Tomlinson, who will oversee international equity trading; Mike Ruggiero, who will run North American equity trading (U.S. and Canada); and Susan Szerbin, who will retain responsibility for U.S. corporate trading. Serge Micallef will take on a newly created role overseeing Hong Kong trading, reporting to Simon Tomlinson.
Nancy Sullivan will assume a new role as global head of Fixed Income Lending (U.S. Treasury and International Fixed Income) and will continue in her role of coordinating asset liability management for Securities Lending. Howard Field, head of International Fixed Income, will now report to Sullivan.
In the Europe, Middle East & Africa region, Jeannine Lehman becomes Securities Lending Business Executive for EMEA, reporting to Slater. In Asia Pacific, Sean Greaves will take on a similar role to Lehman with responsibility for that region. Based in Hong Kong, he will continue to report into Bill Kelly.
Spokesperson Tim Steele told Global Custodian: “The reorganization is in response to client demand for a global approach, and we look to reflect that around the equity and fixed income business. The integrated structure is about providing a more unified global service with high-quality local execution.
“With the new structure, the role of head of international lending disappears, and Rob is no longer in that role. At this point in time he is still with the company.”
James Slater said in a press release: “BNY Mellons securities lending business has built up significant forward momentum over the past 12 months and is well positioned for continued success in 2012. The new management team will be responsible for driving our newly globalized strategy to support our lenders and borrowers in todays fast-evolving marketplace.”
(JDC)