Tim Keaney, late of Mellon, Bankers Trust and Deutsche Bank and currently head of depositary receipts at Bank of New York in New York, is to succeed Jeff Tessler as executive vice president and Head of Europe for the bank, based in London.
Tessler has been appointed executive vice president for BNY Securities Group, the bank’s global agency brokerage, clearing and financial services outsourcing sector, back in New York. Coming from the trading side, he work with the firm’s largest institutional clients.
Keaney will be succeeded as head of depositary receipts by Christopher R. Sturdy, a managing director. Michael Cole-Fontayn, a London-based managing director who has worked for Bank of New York in Hong Kong as well as London for twenty years, succeeds Sturdy as Head of International Marketing for Global Issuer Service.
Tessler, who has been head of Europe for six years, will re-locate to New York shortly. Once there, he will report to Joseph M. Velli, senior executive vice president of the Bank and chief executive officer of BNY Securities Group. Tessler has been with The Bank of New York for 24 years, beginning with The Irving Trust Company, which merged with the Bank in 1988.
Keaney, who has headed the bank’s depositary receipts business for three years, will report to Vice Chairman Alan R. Griffith. Immediately prior to joining the Bank of New York in 2000, Keaney was a London-based senior vice president of Deutsche Bank, where he worked in the custody, asset management, cash management and trade finance businesses.
Sturdy, who joined Bank of New York in 1982, will report to Brian G. Rogan, senior executive vice president and Head of Global Issuer Services. Sturdy has most recently served as managing director and Head of International Marketing for Global Issuer Services. Cole-Fontayn has been with the Bank since 1984.
“We are fortunate to have these executives moving to new leadership roles in key growth areas of our company,” says Thomas A. Renyi, chairman and chief executive officer of The Bank of New York. “In recent years, our organization has significantly expanded its geographic reach and product capabilities, particularly the breadth of services delivered to our clients in Europe and to the BNY Securities Group and Depositary Receipt customers we serve around the world. These executives have the experience and commitment needed to ensure we fully capitalize on future opportunities.”