Thomas C. MacMillan, president and chief executive officer of CIBC Mellon, today announced the promotion of Robert Shier to the position of senior vice president and chief operations officer of the organization. Overseeing the operations for both of CIBC Mellon’s businesses – CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company – Shier will lead operations support; entitlement and corporate actions; trade settlement; client and advisor services; fiduciary control; investor services; pension benefit services; investment fund accounting; and conversions.
“Rob’s business acumen, commitment to quality service and extensive knowledge of our business will greatly benefit our clients and the continued growth of our company,” said MacMillan.
A key component to Shier’s new role will be to consolidate CIBC Mellon’s existing custody and investment fund accounting businesses. This will provide clients with a new and comprehensive set of product solutions, addressing a full range of outsourcing and fund administration needs.
Shier, who has over 20 years experience in the securities industry, including 13 years in securities operations at CIBC World Markets, joined CIBC Mellon in 1997. He has been on CIBC Mellon’s executive committee since 1997 and has held various positions with increasing responsibility, most recently as senior vice president of operations.