The Bank of New York and Mellon Financial Designate Board of Directors for New Corporation
21 Giugno 2007 - 11:25PM
PR Newswire (US)
NEW YORK, and PITTSBURGH, June 21 /PRNewswire-FirstCall/ -- The
Bank of New York Company, Inc. and Mellon Financial Corporation
announced today their nominees to serve on the board of directors
for The Bank of New York Mellon Corporation, which will be the name
of the new company following the completion of the proposed merger
of The Bank of New York and Mellon. Subject to receipt of remaining
regulatory approvals including those from certain state and foreign
governmental authorities, the companies are making plans to close
the proposed merger on or about July 1, 2007, at which time the
nominees will be elected to the board. As indicated in the December
4, 2006 merger announcement, the board will consist of 10 members
designated by The Bank of New York and 8 members designated by
Mellon. Thomas A. Renyi, chairman and chief executive officer of
The Bank of New York, will serve as executive chairman of The Bank
of New York Mellon Corporation for 18 months following the close of
the transaction with overall responsibility for the integration of
the two companies. Robert P. Kelly, president, chairman and chief
executive officer of Mellon, will serve as chief executive officer
of the new company and will succeed Mr. Renyi as chairman of the
board upon Mr. Renyi's retirement. Catherine A. Rein, the presiding
director for The Bank of New York, will serve as lead director for
the new company. The remaining directors will be: Frank J. Biondi
Jr., Nicholas M. Donofrio, Gerald L. Hassell, Richard J. Kogan,
Michael J. Kowalski, John A. Luke Jr., Thomas A. Renyi, William C.
Richardson and Samuel C. Scott III from The Bank of New York's
board, and Ruth E. Bruch, Steven G. Elliott, Edmund F. Kelly,
Robert P. Kelly, Robert Mehrabian, Mark A. Nordenberg, John P.
Surma and Wesley W. von Schack from Mellon's board. Mr. Renyi said,
"These directors bring tremendous insight and talent to our board.
Their guidance will be indispensable as we combine these two
leading companies to create a global growth company committed to
outperforming in every market we serve." Mr. Kelly said, "We salute
our departing board members who have helped both companies sharpen
our business focus and achieve strong leadership in high-growth
businesses. They have played an important role in positioning us
for continued success globally, and we thank them for their many
contributions." Integration planning for the proposed merger has
been proceeding smoothly. In addition to receiving Federal Reserve
approval and antitrust clearance, The Bank of New York and Mellon
received overwhelming approval from their shareholders on May 24,
2007. The new company will be one of the leading asset management
companies globally with assets under management exceeding $1
trillion and will be among the world's leading securities servicers
with more than $18 trillion in assets serviced by the firm. The
Bank of New York Company, Inc. (NYSE:BK) is a global leader in
providing a comprehensive array of services that enable
institutions and individuals to move and manage their financial
assets in more than 100 markets worldwide. The Company has a long
tradition of collaborating with clients to deliver innovative
solutions through its core competencies: securities servicing,
treasury management, asset management, and wealth management. The
Company's extensive global client base includes a broad range of
leading financial institutions, corporations, government entities,
endowments and foundations. Its principal subsidiary, The Bank of
New York, founded in 1784, is the oldest bank in the United States
and has consistently played a prominent role in the evolution of
financial markets worldwide. Additional information is available at
http://www.bankofny.com/. Mellon Financial Corporation (NYSE:MEL)
is a global financial services company. Headquartered in
Pittsburgh, Mellon is one of the world's leading providers of
financial services for institutions, corporations and high net
worth individuals, providing asset management, private wealth
management, asset servicing, issuer services and treasury services.
News and other information about Mellon is available at
http://www.mellon.com/. DATASOURCE: The Bank of New York Company,
Inc. CONTACT: Kevin Heine, of The Bank of New York,
+1-212-635-1569; or Ron Gruendl, of Mellon Financial,
+1-412-234-7157 Web site: http://www.bankofny.com/
http://www.mellon.com/
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