Securities services association appoints BNY Mellon’s new global head of custody to its board

ISSA names custody industry veteran to its board replacing Tom Casteleyn. 

By Jonathan Watkins

The International Securities Services Association (ISSA) has appointed BNY Mellon’s new global head of custody to its board, two months after she joined the US custodian bank. 

Caroline Butler joined BNY Mellon after 18 years with cross-town rival JP Morgan. 

She replaced Tom Casteleyn at BNY Mellon and in joining the ISSA board also takes up his position with the association. 

“We are delighted that Caroline Butler has recently joined our Board of Directors,” said Phil Brown, ISSA Chairman. Caroline’s specific experience in the area of global custody, as well as her broader knowledge of the securities industry, will be invaluable as we move forward. Caroline takes over the position from Tom Casteleyn, to whom I would like to extend my heartfelt gratitude for his excellent work at the Board over the past few years.”  

The appointment to the board will see Butler operate alongside the likes of Standard Chartered’s Margaret Harwood-Jones, Euroclear’s Pierre Yves Goemansand Broadridge’s Samir Pandiri.  

The association publishes a number of studies and documents on important aspects of the securities services industry, along with holding a range of working groups. 

The topics the association has focused on recently include cybercrime, distributed ledger technology and regulation, among others. 

“I am honoured to represent BNY Mellon at ISSA and have the opportunity to join forces with my fellow ISSA colleagues as we shape the future of our ever-evolving industry,” said Butler. 

In her new role at BNY Mellon, Butler will lead product strategy and work with key stakeholders across asset servicing, as the custodian continues to transform its global custody business with a focus on digitalisation, new markets, and modernised custody platforms.   

Butler joined from JP Morgan where she was head of global custody product for the Americas, which included leading the development of the US bank’s exchange traded fund (ETF) servicing business. During her 18 years with JP Morgan, she also served as head of global clearing and collateral product development.