Mellon inks JPMorgan deal; promotes Stasik and Cicero
16 November 2005 | 2391 views | 0
JPMorgan has announced it has selected Mellon Investor Services (MIS) to provide stock transfer agency services and employee plan services for JPMorgan's American Depositary Receipt (ADR) group.
Mellon was selected after considering many factors, such as its technology, operations, risk, compliance and control environments, and commitment to service and innovation.
"The appointment of Mellon to provide stock transfer agent services and employee plan services enables us to continue to deliver the highest levels of service to our issuer clients and their shareholders," said Patrick Colle, Senior Vice President and head of JPMorgan's ADR group. "This arrangement demonstrates the long-standing strategy of JPMorgan's ADR business to continually innovate and enhance services and technologies."
Mellon will begin servicing JPMorgan's new stock transfers and employee plan services during the fourth quarter of 2005. Stock transfer agency services involve managing the official shareholder records of the company it services, pays dividends to shareholders, mailing proxy materials and tabulating proxy votes, among other responsibilities.
Separately, Mellon Financial Corporation (NYSE:MEL) announced that Robert Stasik has been promoted to head of the Corporation's Payment Solutions & Investor Services sector.
An executive vice president who headed Mellon Global Cash Management (GCM) for the past 17 years, he has been with Mellon since 1973 and a member of the Senior Management Committee since 1993. In addition to Mellon GCM, Stasik, 58, also will be responsible for overseeing Mellon Enterprise Cash Management, Mellon Investor Services, Mellon Financial Markets and SourceNet Solutions, a recently acquired accounts payable outsourcing company.
"Bob has demonstrated his ability to improve operations and grow his business within existing markets, as well as to expand Mellon GCM's reach into new areas of product and services innovation. He has worked effectively to consistently retain and win business by meeting or exceeding our customers' expectations," said Martin G. McGuinn, Mellon chairman and chief executive officer. "He also has deep and broad experience in working with clients to achieve results -- for them and for Mellon."
Stasik started his Mellon career as an analyst in the Research and Development division of the Operating Department and also held a number of other positions, including manager of the Money Management Systems section in the Information Management and Research department and manager of the International Cash Management division of the International department. He later managed GCM's international marketing efforts and was director of product management for all cash management products before being appointed head of that business in 1988.
He is a member of the board of trustees for Robert Morris University and also has served on the Federal Reserve Wholesale Payments Services Advisory Group and the American Bankers Association Wholesale Financial Services Advisory Group, as well as the board of directors for the Financial Services Technology Consortium. Earlier this year, Treasury & Risk Management magazine recognized Stasik as one of its 100 "most influential people in finance." He has a bachelor's degree in business administration from Robert Morris University and a master's degree from the University of Pittsburgh.
Replacing Stasik as head of Mellon GCM is Gregory J. Cicero, 49, who previously served as director of product management for that business. Since joining Mellon GCM in 1983, he has held a variety of product management positions, including general manager of the group's lockbox facility in Dallas.
"Greg has a wealth of knowledge in managing both products and operational support, and possesses excellent customer relations skills that combine to make him the ideal choice for this position," Stasik said.
Cicero received bachelor's degrees in economics and psychology and a master's degree in business administration from the University of Pittsburgh. He also is a certified cash manager.