Tim Keaney, London-based head of Bank of New York (BNY) in Europe, looks to be the big winner from the latest organizational reshuffle at the bank.
BNY has created a new Global Investor Services organization, which will combine the custody, fund services, risk services, accounting, and outsourcing business units. It will be supported by unified product development and operational support teams.
The organization, which will have more than $11 trillion in assets under custody, will be headed by Tim Keaney, who has been promoted to senior executive vice president. Keaney, who will remain in London, will continue in his current role as head of Europe and continue to report to the Company’s president, Gerald L. Hassell.
The Bank of New York has also created a new Global Client Management organization that brings client management teams in over 100 markets into a single global unit that will sell everything the bank has to offer. The organization will be headed by Torry Berntsen, who has also been promoted to senior executive vice president. He will continue to report to Hassell too.
In addition, Kenneth A. Lopian has been promoted to senior executive vice president and deputy head of Global Client Management, reporting to Berntsen. Lopian will continue to oversee Global Sales Coordination.
“By aligning our global organizations under these talented leaders, we will significantly enhance our ability to offer globally integrated product, sales and service offerings,” says Hassell. “As our clients continue to expand their operations across geographies, we are well-positioned to meet their evolving requirements and help them with innovative solutions across the global markets.”