BNY Mellon has appointed Akash Shah to the newly created role of chief growth officer, effective immediately.
Shah, who was previously senior executive vice president and head of strategy and global client management at the firm, will continue to report to the group’s CEO Todd Gibbons.
In this new role, he will oversee strategy, marketing, and communications as well as global client management.
Gibbons said: “Akash has been a driving force of change since joining the firm three years ago. He has been instrumental as a member of the Executive Committee, in helping to shape our firm-wide strategy, as well as client service and growth agendas.
“In his new role, he will continue to drive momentum across our business, and be a force multiplier in BNY Mellon’s ability to seize the growth opportunities in the marketplace, while continuing to deliver innovative solutions to our clients.”
Shah joined BNY Mellon in 2018 as head of strategy.
He served serval positions at the firm in the last three years, including oversight of marketing & communications and global client management.
Prior to BNY Mellon, he was a partner at McKinsey & Company, advising financial institutions in the US, Europe and Asia.
He also co-lead McKinsey’s Capital Markets & Investment Banking practice.
Shah said: “BNY Mellon has a rich legacy built on trust and innovation. We’re a platform provider that helps our clients build their businesses, and our unique and differentiated model allows us to play a critical role at the centre of the global capital markets.
“As the industry and our clients’ needs evolve, we must continue to re-imagine our business and place data and open platforms at the heart of the transformation. This will allow us to help our clients stay ahead of the curve and lead change across the industry.”
BNY Mellon posted a net income of $991m for the second quarter of 2021, an increase of 10% compared to $901m a year ago.