Industry veteran’s term starts next year
Banking giant BNY Mellon has announced the appointment of its new CEO, 52-year-old Charles Scharf, starting January next year. He will also become chairperson of the bank’s board of directors once his term begins.
He will replace outgoing CEO Gerald Hassell, who has served as the bank’s head since 2012. “Charlie [Scharf] is an accomplished and distinguished leader, with a record of profitably growing businesses, driving innovation and managing complex, large-scale global financial services organizations," Hassell.
Scharf previously worked for Visa from October 2012 to December 2016, where he served as CEO. BNY Mellon said Scharf is recognized for transforming the Visa into a technology-driven digital commerce company.
“Under Charlie's leadership, Visa transformed its technology platform by opening access to its network and capabilities, partnered with the world's leading technology companies to drive new payment experiences, introduced new technologies to improve payment system security and built a world-class management team,” said Hassell. “Charlie is ideally suited to lead BNY Mellon through the next phase of growth."
Scharf said he will continue the banks “clients first” approach, as it seeks to define itself as their “premier technology platform.” Scharf currently sits on the board of Microsoft.
Before joining Visa, he was a managing director of One Equity Partners, the private investment arm of JPMorgan Chase & Co. Previously, he served as Chief Executive Officer of Retail Financial Services, one of JP Morgan Chase's six lines of business, from 2004 to 2011, and as Chief Executive Officer of the retail division of Bank One Corp. from 2002 to 2004.
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He will replace outgoing CEO Gerald Hassell, who has served as the bank’s head since 2012. “Charlie [Scharf] is an accomplished and distinguished leader, with a record of profitably growing businesses, driving innovation and managing complex, large-scale global financial services organizations," Hassell.
Scharf previously worked for Visa from October 2012 to December 2016, where he served as CEO. BNY Mellon said Scharf is recognized for transforming the Visa into a technology-driven digital commerce company.
“Under Charlie's leadership, Visa transformed its technology platform by opening access to its network and capabilities, partnered with the world's leading technology companies to drive new payment experiences, introduced new technologies to improve payment system security and built a world-class management team,” said Hassell. “Charlie is ideally suited to lead BNY Mellon through the next phase of growth."
Scharf said he will continue the banks “clients first” approach, as it seeks to define itself as their “premier technology platform.” Scharf currently sits on the board of Microsoft.
Before joining Visa, he was a managing director of One Equity Partners, the private investment arm of JPMorgan Chase & Co. Previously, he served as Chief Executive Officer of Retail Financial Services, one of JP Morgan Chase's six lines of business, from 2004 to 2011, and as Chief Executive Officer of the retail division of Bank One Corp. from 2002 to 2004.
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