- Push-out Score determined
- After less than three years in the position
- Praise and thanks for Gibbons
- Robin Vince taking over
- Gibbons spoke at length and said 140 words
(exechange) — New York, March 10, 2022 — Todd Gibbons, chief executive of BNY Mellon, leaves. As announced by Bank of New York Mellon Corp. in a news release and in a regulatory filing published on Thursday, March 10, 2022, Thomas P. (Todd) Gibbons leaves his post as chief executive officer at the investment banking services holding company, after less than three years in the role, effective August 31, 2022.
Todd Gibbons’s duties as CEO will be taken over by Robin Vince, most recently Vice Chair and CEO of Global Market Infrastructure at Bank of New York Mellon Corp.
“Well-planned, thorough and orderly succession process”
Todd Gibbons’s departure from the CEO post is explained as follows. Joseph J. Echevarria, Independent Chair of the Board of Directors, said: “Today’s announcement is the culmination of the Board and Todd’s well-planned, thorough and orderly succession process to ensure continuity of leadership and BNY Mellon’s continued success.”
Precise information regarding Todd Gibbons’s future plans was not immediately available.
“Retire”
BNY Mellon said: “Thomas P. (Todd) Gibbons has decided to retire as Chief Executive Officer and member of the Board of Directors on August 31, 2022, after a distinguished 36-year career with the company. The Board of Directors has appointed Robin Vince to be his successor at that time. Mr. Vince will initially serve as President and CEO-elect, effective immediately, working closely with Mr. Gibbons to ensure a seamless and orderly transition of responsibilities.”
Share price increase since September 2019
The announcement follows an increase in Bank of New York Mellon Corp.’s share price of 26% since September 2019. September 2019 is the month in which Gibbons’s tenure as CEO began.
In the position of CEO since 2019
Todd Gibbons became CEO of the Company in 2019.
Gibbons will remain on the Board until his retirement.
Gibbons has served as the Company’s CEO since March 2020 and as the Company’s interim CEO from September 2019 until March 2020.
During his career at BNY Mellon, Gibbons has held leadership roles across risk, finance, client management and many of the Company’s businesses.
Most recently, he served as Vice Chairman and CEO of Clearing, Markets and Client Management.
Gibbons also served from 2008 through 2017 as BNY Mellon’s Chief Financial Officer.
Previously, for nearly a decade, he was Chief Risk Officer of The Bank of New York Company, Inc., overseeing credit, operational and market risk management.
Gibbons also served for one year as the Chief Financial Officer of The Bank of New York Company, Inc.
Gibbons served as a director of PHH Corporation, a financial services company, from 2011 until 2017.
Gibbons is a member of the Company’s Executive Committee, the organization’s most senior management body.
He also serves on the board of the Institute of International Finance, the board of trustees of Pace University and on the advisory board of Wake Forest University’s Business School.
He holds a B.S. in Business Administration from Wake Forest University and an MBA from Pace University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Todd Gibbons’s move on a scale of 0 to 10.
exechange reached out to BNY Mellon and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 11.2022 ($).