Thomas Gibbons, the interim CEO at Bank of New York Mellon (BNY), has been named permanently to the position, according to a report by Reuters.
Gibbons was put in charge in September of last year after the departure of Charles Scharf, who left to become the CEO of Wells Fargo.
“The Board conducted a comprehensive search process over a number of months, and we concluded he is the right person for the job,” said Chairman Joseph Echevarria.
Gibbons was the head of the bank’s clearing, markets and client management division before he was named to the new position. That department was reportedly responsible for almost 50 percent of the bank’s earnings. Before that, he spent nine years as the bank’s chief financial officer.
BNY Mellon recently went through some other changes as well. In October, the bank’s former Vice Chairman Bill Daley left the institution after only working in the position for five months. Daley’s appointment at the bank followed an unsuccessful bid to become the mayor of Chicago. Before that, he was the White House chief of staff under President Obama and was at JPMorgan Chase for almost a decade. Daley used to work with Scharf when they were both at JPMorgan. Since November 13 of last year, Daley has been working as the Vice Chairman of Public Affairs for Wells Fargo.
In other executive news, Mastercard announced last month that Ajay Banga will be leaving his CEO role next January to assume the company’s executive chairman position. Chief Product Officer Michael Miebach will take over the chief executive role.
Meanwhile, cloud-based payments technology company Aliaswire announced in a press release that it has hired Jed Rice, a former PayPal executive, as its new CEO, and has appointed him to its board of directors.