Bank of New York Mellon Corp 8-K, filed Jul 21, 2020
Bank of New York Mellon Corp (BNY)
About this 8-K
Bank of New York Mellon Corp filed this 8-K on July 21, 2020, reporting on events of July 17, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (
Not Applicable
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 21, 2020, The Bank of New York Mellon Corporation (the “Company”) announced that on July 19, 2020, the Board of Directors of the Company appointed Emily Portney as Chief Financial Officer, effective immediately.
Ms. Portney succeeds Michael Santomassimo, who resigned as Chief Financial Officer of the Company, effective as of July 17, 2020.
Ms. Portney, age 48, most recently led the client management, sales and service teams for the Company’s Asset Servicing business globally, and oversaw the Americas region for the Asset Servicing business. Prior to joining the Company in 2018, Ms. Portney served as Chief Financial Officer for Barclays International and as the Chief Financial Officer of North America for Visa Inc. Prior to such roles, Ms. Portney spent 22 years at JPMorgan Chase & Co., where she served as Global Head of Clearing and Collateral Management and Chief Financial Officer of Equities and Prime Services. Ms. Portney has no family relationship with any director or executive officer of the Company, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The Company has not entered into any material plan, contract or arrangement to which Ms. Portney is a party or in which she participates in connection with her appointment as Chief Financial Officer. In the event of such a material plan, contract or arrangement, the Company will file an amendment to this report within four business days thereof.
| Item 8.01. | Other Events. |
On July 21, 2020, the Company issued a press release in connection with the appointment and departure set forth in Item 5.02 above. A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) EXHIBITS
| Exhibit Number |
Description | |
| 99.1 | Press Release of The Bank of New York Mellon Corporation, dated July 21, 2020 | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| The Bank of New York Mellon Corporation (Registrant) | ||||||
| Date: July 21, 2020 | By: | /s/ James J. Killerlane III | ||||
| Name: | James J. Killerlane III | |||||
| Title: | Secretary | |||||
3
Exhibit 99.1
| News Release |
|
| Contacts: | Media Manny Goncalves +1 973 809 1114 manuel.goncalves@bnymellon.com |
Analysts magda.palczynska@bnymellon.com |
|
Emily Portney Appointed as Chief Financial Officer of BNY Mellon
NEW YORK, July 21, 2020 — The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) announced today that Emily Portney has been appointed Chief Financial Officer, effective immediately, succeeding Mike Santomassimo, who has informed the company of his decision to leave. Ms. Portney will report to Todd Gibbons, CEO of BNY Mellon, and will join BNY Mellon’s Executive Committee.
“As part of the ongoing evolution and transformation of our business and our operating model, we are happy to appoint Emily Portney as the new CFO,” said Todd Gibbons, CEO of BNY Mellon. “Emily is an accomplished and respected industry leader, with deep industry knowledge and connections to our client base. She provides the critical business and client-centric perspective that the role of CFO requires, and will join the other members of the Executive Committee in executing on our strategy, which is centered on driving growth, increasing efficiency and scaling our operating model, and fostering a high-performance culture.”
Ms. Portney most recently led the client management, sales and service teams for BNY Mellon’s Asset Servicing business globally. She also oversaw the Americas region of the Asset Servicing business.
“I am honored to serve as CFO of BNY Mellon,” Ms. Portney said. “We have a strong balance sheet and a vibrant business, and we will continue to focus on quality and efficiency in our operating model to support growth and an exceptional client experience.”
Prior to joining BNY Mellon, Ms. Portney served as Chief Financial Officer for Barclays International, where she helped to establish the non-ring-fenced bank, and led a global organization spanning the Corporate and Investment Bank, the Private Bank, and the Cards and Payments businesses. She spent 22 years at JPMorgan, where she was the Global Head of Clearing and Collateral Management, among other roles. She started with JPMorgan in 1993, and performed various roles over the course of her career, including the CFO of Equities and Prime Services.
Ms. Portney serves on the Board of Directors for MarketAxess, a publicly traded corporation, and for The Depository Trust & Clearing Corporation (DTCC). She holds a Master of Business Administration from Columbia Business School and a bachelor’s degree from Duke University.
ABOUT BNY MELLON
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of June 30, 2020, BNY Mellon had $37.3 trillion in assets under custody and/or administration, and $2.0 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
*****