Source: Thomas A. Renyi
Thomas A. Renyi today announced his plans to retire as Executive Chairman and a Director of The Bank of New York Mellon, the global leader in asset management and securities servicing, effective July 31, 2008.
Robert P. Kelly, the company's Chief Executive Officer, will assume the additional role of Chairman when Mr. Renyi retires in accordance with the company's by-laws.
Prior to the July 2007 merger of The Bank of New York and Mellon Financial, Mr. Renyi served as Chairman and Chief Executive Officer for The Bank of New York, culminating a line of leaders that began with its founder, Alexander Hamilton. During his 10 years as CEO he successfully led The Bank of New York's transformation from a traditional commercial bank to a global leader in securities servicing. In the process, he instilled in the company a clear and sharp focus and set the stage for the historic merger with Mellon, a transaction Mr. Renyi initiated and helped drive to fruition.
"I have spent my entire career at The Bank of New York Mellon and its predecessor institution, and am enormously proud of our success through the years in influencing the evolution of our industry, helping our clients navigate rapid market change and creating a global growth company without equal," said Mr. Renyi. "The Bank of New York Mellon has just begun to realize its true potential. Given its outstanding momentum, the strength of our management team and the high caliber of our people, I am confident the company will continue to lead our industry and exceed the expectations of clients worldwide."
Mr. Kelly added, "Tom has been my partner in putting together a fantastic company built to outperform our peers. He has been a strong and visionary leader and a generous benefactor to the community. His contributions will continue to resonate throughout our organization."
"The Board is enormously supportive of Tom's decision to retire at this time, recognizing the company's excellent progress against key integration milestones and its early success in delivering strong financial performance and outstanding service to clients," said Catherine A. Rein, Lne A. Rein, Lead Director of The Bank of New York Mellon. "Tom's leadership and foresight have been instrumental in positioning the company for sustained growth, and we are extremely grateful for his contributions."
Mr. Renyi's career at The Bank of New York Mellon and its predecessor has spanned nearly four decades and included key leadership roles in securities servicing, credit policy and capital markets. Since the closing of the transaction in July 2007, he has been overseeing the global integration effort behind one of the industry's most successful mergers. Under his direction the company is executing a thoughtful, disciplined effort and has continued to meet and exceed key milestone and synergy targets.
Mr. Renyi has carried out a similar leadership position before with distinction. He led the transition team responsible for integrating the Irving Trust Company into The Bank of New York in 1989, which was the largest merger in the U.S. banking industry at the time and gave The Bank of New York an expanded presence in international markets and critical scale in its securities servicing businesses. The merger with Irving Trust set the stage for the next chapter in The Bank of New York's global growth and for Mr. Renyi's personal leadership of the institution.
In 1992, Mr. Renyi was named President of The Bank of New York and elected to its Board of Directors. In 1997, he was appointed Chief Executive Officer of The Bank of New York Company, Inc. and was elected Chairman of the Board the following year.
Mr. Renyi currently serves on the Boards of Directors of Public Service Enterprise Group Incorporated and The Clearing House, and is chairman of The Financial Services Roundtable.
He is a member of the Boards of Trustees of Rutgers University, Bates College, the Healthcare Chaplaincy and the Catholic Charities of the Archdiocese of New York. He is also a member of the Board of Directors of Lincoln Center for the Performing Arts, Inc. and has served on the boards of United Way of New York City, the World Trade Center Memorial Foundation and the Lower Manhattan Development Corporation.