- Push-out Score determined
- After about two and a half years in the position
- Praise for Portney
- Dermot McDonogh taking over
- Portney will remain as head of the Treasury Services, Credit Services, and Clearance & Collateral Management businesses at BNY Mellon
(exechange) — New York, July 6, 2022 — Emily Portney, finance chief of BNY Mellon, leaves her post. Her departure is made public at an early stage. As announced by Bank of New York Mellon Corp. in a news release and in a regulatory filing published on Wednesday, July 6, 2022, Emily H. Portney leaves her post as chief financial officer at the investment banking services holding company, after about two and a half years in the role, effective January 31, 2023.
Emily Portney’s duties as CFO will be taken over by Dermot McDonogh, most recently chief operating officer of the Europe, Middle East, and Africa region at Goldman Sachs International.
No reason given
In the announcement, BNY Mellon did not explicitly explain the reason for the move.
Portney will remain as head of the Treasury Services, Credit Services, and Clearance & Collateral Management businesses at BNY Mellon
“Ms. Portney will continue serving as CFO through January 31, 2023 and will work closely with Mr. McDonogh to ensure a seamless transition. Ms. Portney will then assume a new role leading the company’s Treasury Services, Credit Services, and Clearance & Collateral Management businesses. The heads of these businesses will report to Ms. Portney from February 1, 2023. Ms. Portney will continue to report to BNY Mellon’s CEO and serve as a member of the Executive Committee,” BNY Mellon said.
Share price increase since July 2020
The announcement follows an increase in Bank of New York Mellon Corp.’s share price of 12% since July 2020. July 2020 is the month in which Portney’s tenure as CFO began.
In the position of CFO since 2020
Emily Portney became CFO of the Company in 2020.
Portney has served as Senior Executive Vice President and Chief Financial Officer of BNY Mellon since July 2020 and served as Global Head of Asset Servicing client management, sales and service and Head of the Americas region from October 2018 to July 2020.
Portney was the Chief Financial Officer of Barclays International from September 2016 to May 2018.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Emily Portney’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 28.2022 ($).