Head of BNY Mellon CSD Departs

Chris Prior Willeard, the head of BNY Mellon’s central securities depository (CSD), has left, one month after the custodian halted further investment into the Belgium-based business.

Willeard left BNY Mellon in June to join Thomas Murray as a management consultant.

Despite much interest when the CSD launched in 2013, the business is now under threat following the delay of CSDR, as well as the delay by the European Securities and Market Authority (ESMA) of the introduction of the settlement discipline.

Willeard joined BNY Mellon in September 2006 as head of strategy and innovation in the Depository Receipt Division. He then became the project head of BNY Mellon’s CSD.

A spokesperson for BNY Mellon confirmed the move.