BNY Mellon Corporation (NYSE: BK) has announced the election of its Chief Executive Officer, Robin Vince, as the new Chairman of the Board of Directors, effective September 1, 2025. Joe Echevarria, the current Chairman, will transition to the role of Lead Independent Director. Vince joined the board and became CEO on August 31, 2022.
As of March 31, 2025, BNY oversees $53.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. The company supports over 90% of Fortune 100 companies and nearly all of the top 100 banks globally to access the money they need. Additionally, BNY works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals.
Since Vince assumed his role almost three years ago, BNY has seen significant changes. He has demonstrated a rigorous approach to strategy and execution, along with an unwavering dedication to serving clients and creating value for shareholders. Joe Echevarria, the outgoing Chairman, previously held the Lead Independent Director role from 2016 to 2019.
Vince's new responsibilities as Chairman will involve leading the work to set the agenda for the board, leveraging his deep understanding of BNY’s business to continue the firm’s transformation, drive strategy, and manage risk. In his role as Lead Independent Director, Echevarria’s responsibilities will include acting as a liaison between independent directors and the Chairman and CEO, providing input on behalf of the independent directors on board agendas, calling meetings of the independent directors, and setting agendas for executive sessions and meetings of independent directors.
The company has expressed confidence in its trajectory and sees tremendous opportunities ahead as it continues to deliver for its clients, embrace new ways of working, and come together as one BNY. The market has reacted to these announcements by moving the company's shares 0.17% to a price of $89.71. For more information, read the company's full 8-K submission here.
