Pershing, a subsidiary of BNY Mellon, has appointed Cécile Nagel as the new CEO of its unit that caters to the Europe, the Middle East and Africa (EMEA) region.
Post her hiring, Nagel is set to be a part of Pershing’s global executive committee and will be based out of London.
The new appointment, which awaits customary regulatory approvals, will be effective October this year.
In her new role, Nagel will head Pershing’s EMEA management team. She will also support Pershing in the UK, Channel Islands and Ireland to form alliance with financial organisations and provide them with custody, clearing, settlement and trading services.
Nagel, who has been serving as the CEO of European Central Counterparty (EuroCCP) since 2018, has helped the company to deliver clearing services to 47 trading venues throughout Europe.
She also led EuroCCP to roll out its clearing equity derivatives activities and supervised the firm’s divestment to Cboe Global Markets in July 2020.
Before leading EuroCCP, Nagel served in various senior management positions at London Stock Exchange Group, Oliver Wyman, and the former Financial Services Authority.
Nagel said: “I’m excited to join Pershing’s EMEA business at a critical time for our clients, who are grappling with complex challenges as a result of heightened market uncertainty and changes in the way people and organisations invest their wealth and manage their assets.
“These institutions already see Pershing as a trusted, long-term solutions provider, and that will not change.”
Pershing, along with its subsidiaries, serve the broker-dealers, asset managers, intermediary firms, IFAs, and financial organisations throughout EMEA.
They offer various products such as fully disclosed custody, clearing and settlement for wealth managers and advisers, in addition to institutional global clearing and trading solutions.
Early this month, ET reported that BNY Mellon was planning to increase its workforce in India with an aim to expand its businesses in the country.