BNY Mellon Asset Servicing, the global leader in investment servicing, has announced that James Slater will become global head of securities lending following the retirement of Kathy Rulong on 1 July 2011.
Slater was formerly chief operating officer for BNY Mellon’s securities lending business with responsibility for providing strategic direction for core functions, including trading and product development within that business.
Bill Kelly is named as deputy head of securities lending in addition to his current responsibilities as head of new business and client service.
Tim Keaney, CEO of BNY Mellon Asset Servicing, said: “James brings significant expertise to the business and under his leadership it will provide continuity of service to our clients as well as delivering cutting edge new products to service their needs. Kathy has been a tremendous leader for our securities lending business over the past four years and we wish her all the best for her retirement.”
With over 20 years’ experience in the financial services industry, Slater joined BNY Mellon in 2009 from CIBC Mellon, the Canadian joint venture between CIBC and BNY Mellon, where he was was senior vice president and head of capital markets. He provided leadership for the JV’s capital markets sector, which included global securities lending, treasury and cash management. He was also a member of the company’s executive management committee and chaired the asset/liability committee.
During his career, Slater has had responsibility for coordinating securities lending operations, supporting risk identification and compliance initiatives, improving best practices, enhancing operating efficiency and leveraging the department’s extensive global presence and product capabilities. Prior to his tenure with CIBC Mellon, he served with CIBC World Markets where he was a key contributor to the team that was responsible for the formation of CIBC Mellon.
Rulong joined BNY Mellon over 30 years ago, initially working in the capital markets and money managers sales groups before moving to the securities lending division in 1998.