BNY Mellon chairman and chief executive Gerald Hassell has announced three executive promotions, effective 1 January 2013.

Karen Peetz, currently vice chairman and CEO of financial markets and treasury services, will become president of BNY Mellon. Peetz will lead global client management, regional management, treasury services and human resources.

Brian Shea will become president of investment services and head of BNY Mellon's global operations and technology group. Shea will continue in his role as CEO of BNY Mellon's Pershing subsidiary and as head of broker-dealer and advisor services.

Lastly, Timothy Keaney, currently vice chairman and CEO of asset servicing, will be named CEO of investment services. BNY Mellon said it will align its asset servicing, corporate trust, depositary receipts, global markets, global collateral services, broker-dealer services and Pershing businesses under Keaney's leadership. Keaney will retain his vice chairman title.

Vice chairman Curtis Arledge remains as CEO of BNY Mellon Investment Management, the New York bank's asset and wealth management businesses.

Peetz, Keaney and Arledge continue to report to Hassell. Shea will report to Hassell as head of global operations and technology and to Keaney in his role as president of investment services.

BNY Mellon has $27.9 trillion and $1.4 trillion in assets under custody and administration, and assets under management, respectively.