GLOBAL - Mellon Financial Corporation has reshuffled some of its key management positions in a bid to leverage European activities, said the firm.
Jack Klinck, executive vice president and head of corporate strategy and development, now heads Mellon’s European operations, based in London.
He reports directly to Mellon chairman and chief executive officer Martin McGuinn.
Steve Blizzard has also been appointed director of European strategy and development for the asset servicing businesses. He will have a dual reporting role to Klinck and Bruno Bonacchi, who was recently named as the firm’s head of corporate strategy and development.
Klinck also takes on the newly-created role as executive director of Mellon Global Securities Services (GSS) International. In this capacity he is responsible for the firm’s custody and fund administration businesses outside of North America, including ABN AMRO Mellon and Mellon Fund Administration. He reports to James Palermo, head of Mellon GSS.
Klinck joined Mellon in 1997 as head of Mellon’s credit card and affinity financial services unit, and assumed his current position soon after Mellon divested its credit card portfolio in 1999.
Jon Groom, head of Mellon Europe since January 2000, has returned to New York City where he will continue to head Mellon Global Investments, Mellon’s umbrella organisation for non-US asset management. He will also lead the development of the firm’s alternative investments strategy on a global basis, as well as have responsibility for non-US asset management acquisitions.
Groom continues to report to Mellon vice chairman, Ronald O’Hanley.
Richard Godfrey is now managing director of Mellon Fund Administration. He joined the division in 1999 with responsibility for strategy and projects, including Mellon’s defined contribution pensions offering, e-commerce, and funds supermarkets. Godfrey will report to Klinck.
By Madhu Kalia
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.