Mellon Financial names Leon Busch president and CEO of SourceNet Solutions

Source: Mellon Financial

Mellon Financial Corporation (NYSE:MEL) has announced that Leon Busch has been promoted to president and chief executive officer of SourceNet Solutions, its business dedicated to providing comprehensive accounts payable and payroll administration outsourcing solutions.

The appointment is effective immediately, and he will report to Robert W. Stasik, executive vice president and director of global cash management for Mellon.

"Drawing on his technical expertise and in-depth knowledge of business process outsourcing, Leon will play a key role in enabling us to continue to grow our business process outsourcing capabilities and industry presence in this high-growth market," Stasik said. "His long history with SourceNet will also provide a strong base of continuity for its customers and further build upon its tradition of providing world-class processes, tools and personnel."

In his new role, Busch will manage SourceNet's efforts to further enhance and deliver the company's suite of business process outsourcing solutions designed to enable its customers to outsource accounts payable, improve utility bill management and streamline payroll activities. His role will also encompass responsibility for overseeing the organization's efforts to market SourceNet capabilities on a global scale and to further integrate the company's capabilities with Mellon Global Cash Management's other working capital management options.

Busch has extensive experience in designing and implementing business process outsourcing solutions. He joined SourceNet Solutions in 1997, and during his tenure there has held several operations, client relations and transition management positions. Most recently he was vice president of operations. He has a bachelor's degree in finance from Michigan State University.

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