The Bank of New York Mellon (BNY Mellon) has appointed Jeff McCarthy to the newly-created role of CEO of Exchange Traded Funds.

McCarthy will lead and execute the long-term strategy to drive growth in the company’s ETF business.

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He will be responsible for the delivery of comprehensive ETF solutions to the marketplace, and work to further develop partnerships in the ETF industry, the company said.

McCarthy will report to Frank LaSalla, chief executive officer of BNY Mellon's Global Structured Products and Alternative Investment Services business.

Prior to joining BNY Mellon, he served at NASDAQ as head of exchange traded product listings and trading. He led the strategy and business execution of the Nasdaq Exchange Traded Product Listing (ETP) and Trading Market.

Previously, he also held senior positions at Citigroup and Brown Brothers Harriman & Co.

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Commenting on the appointment, LaSalla said: "Jeff brings extensive experience in global exchange traded funds platforms and trading markets. His deep knowledge and track record of results in developing and delivering on trade revenue expansion strategies for ETF's with a strong emphasis on delivering strong partnership solutions will play a critical role for BNY Mellon in serving a market that is likely to at least double  in size over the next 10 years."