The US financial group has appointed a new CEO to replace the man who has left to take up the same post at Wells Fargo.

Bank of New York Mellon, which operates in fields including wealth management, has appointed Thomas P (“Todd”) Gibbons, as interim chief executive, effective immediately. Gibbons is a 30-year veteran of the firm.
 
Gibbons succeeds Charles W Scharf, who as reported elsewhere has left the firm to become the new CEO of Wells Fargo. Joseph Echevarria, a member of BNY Mellon's board of directors since February 2015 and lead independent director, has been appointed non-executive chairman of the board. 

Gibbons served for nine years as BNY Mellon's chief financial officer and most recently as vice chairman and CEO of clearing, markets and client management, where he oversaw the Pershing clearing business; the trading, financing, collateral and liquidity management solutions delivered through the markets business; treasury services and commercial payment activities; the US government securities clearance and US tri-party repo businesses delivered through BNY Mellon Government Securities Services Corp; credit services; global client management; and regional area management.