BNY Mellon Appoints Akash Shah as its first Chief Growth Officer

Rhea-AI Summary

BNY Mellon has appointed Akash Shah as its first Chief Growth Officer, effective immediately. This new position will oversee Strategy, Marketing & Communications, and Global Client Management. Previously Senior Executive Vice President, Mr. Shah has been part of the Executive Committee, shaping BNY Mellon's strategies for client service and growth. He aims to drive momentum, focusing on innovative solutions for clients. As of June 30, 2021, BNY Mellon managed $45.0 trillion in assets under custody and $2.3 trillion in assets under management.

Positive

• Appointment of Akash Shah as Chief Growth Officer expected to enhance strategic growth.
• Mr. Shah's prior experience at McKinsey supports his leadership in driving client-focused initiatives.

Negative

• Potential concerns about continuity and experience gaps with the newly created role.

NEW YORK, July 21, 2021 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") (NYSE: BK) announced today that Akash Shah has been appointed Chief Growth Officer, effective immediately. This newly created role will oversee Strategy, Marketing & Communications, and Global Client Management. Mr. Shah, who previously held the title of Senior Executive Vice President, Head of Strategy and Global Client Management, will continue to report to Todd Gibbons, CEO of BNY Mellon.

"Akash has been a driving force of change since joining the firm three years ago. He has been instrumental as a member of the Executive Committee, in helping to shape our firm-wide strategy, as well as client service and growth agendas," said Todd Gibbons. "In his new role, he will continue to drive momentum across our business, and be a force multiplier in BNY Mellon's ability to seize the growth opportunities in the marketplace, while continuing to deliver innovative solutions to our clients."

"BNY Mellon has a rich legacy built on trust and innovation. We're a platform provider that helps our clients build their businesses, and our unique and differentiated model allows us to play a critical role at the center of the global capital markets," said Mr. Shah. "As the industry and our clients' needs evolve, we must continue to re-imagine our business and place data and open platforms at the heart of the transformation. This will allow us to help our clients stay ahead of the curve and lead change across the industry."

Mr. Shah joined the company as Head of Strategy in July 2018 and has assumed increasing responsibility during the last three years, including oversight of Marketing & Communications and Global Client Management. Prior to joining BNY Mellon, he was a partner at McKinsey & Company, advising leading financial institutions in the U.S., Europe and Asia, as well as co-leading McKinsey's Capital Markets & Investment Banking practice.

Mr. Shah is on the board of the literary journal, The Paris Review. He is a graduate of Yale University.

About BNY Mellon

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Media
Manny Goncalves
212 635 1568
manuel.goncalves@bnymellon.com

Analysts
Marius Merz 
212 298 1480
marius.merz@bnymellon.com

 

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SOURCE BNY Mellon

FAQ

What is the significance of Akash Shah's appointment as Chief Growth Officer at BNY Mellon?

Akash Shah's appointment is significant as it marks a strategic move to enhance growth and client engagement within BNY Mellon, overseeing crucial areas like Strategy and Global Client Management.

When did Akash Shah join BNY Mellon and what roles has he held?

Akash Shah joined BNY Mellon in July 2018 as Head of Strategy and has since taken on increased responsibilities including oversight of Marketing & Communications and Global Client Management.

How might Akash Shah's background influence BNY Mellon's future direction?

With a background as a partner at McKinsey & Company, Mr. Shah brings valuable insights into financial institutions, which could shape BNY Mellon's strategies for growth and client service.

What are the assets managed by BNY Mellon as of June 2021?

As of June 30, 2021, BNY Mellon managed $45.0 trillion in assets under custody and $2.3 trillion in assets under management.