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BNY Mellon names interim CEO, nonexecutive chairman

Bank of New York Mellon Corp.'s board named Thomas Gibbons interim CEO and added him to the board, effective immediately.

Gibbons was also appointed interim CEO of wholly owned principal subsidiary, The Bank of New York Mellon.

He succeeds Charles Scharf, who was appointed president and CEO of Wells Fargo & Co. Scharf resigned as Bank of New York Mellon's chairman and CEO and from the board and as CEO of the principal unit and BNY Mellon NA, effective Sept. 26.

Gibbons has served as the company's vice chairman and CEO of clearing, markets and client management since January 2018.

Bank of New York Mellon's board also appointed independent director Joseph Echevarria nonexecutive chairman, effective Sept. 26.