BNY Mellon has announced that Douglas Shulman has been appointed senior executive vice president and global head of Client Service Delivery (CSD). He has also joined the firm's executive committee, BNY Mellon's senior-most governing body.
In this position, Shulman leads the company's CSD group, which has more than 18,500 employees worldwide and provides critical services to clients that support BNY Mellon's role as the investments company for the world. He will lead the CSD team's strategic direction in driving excellence and becoming the recognized industry service quality and productivity leader.
'Generating superior client and shareholder value depends on continuously improving what we do and how we do it', said Brian Shea, CEO of BNY Mellon Investment Services, who has oversight for Client Service Delivery and Client Technology Solutions. 'We are transforming our company through this continuous process improvement approach to managing our businesses. Doug has extensive experience leading strategic transformative change in large, highly-regulated, complex service delivery and technology organizations'.
Shulman, 47, joins BNY Mellon from McKinsey & Company, where he was a senior advisor, and Harvard's Kennedy School Center for Business & Government, where he was a Senior Fellow. Prior to that, Shulman was the commissioner of the Internal Revenue Service (IRS), where he oversaw the 100,000 person agency and led a major modernization of the agency and its technology. He previously served in various roles at the Financial Industry Regulatory Authority (FINRA), most recently as Vice Chairman, where he had broad responsibility for operations, services and strategy, oversaw the sale of the Nasdaq Stock Market and played a lead role in restructuring the organization.
'I am excited to join an industry leader like BNY Mellon to oversee innovative and transformative efforts that will deliver long-term value to our clients and shareholders', said Shulman. 'I look forward to working with the rest of the team to drive innovation and a relentless focus on continuous process improvement'.
Shulman has a bachelor's degree from Williams College, master's degree from Harvard University and law degree from Georgetown University.
BNY Mellon also announced the appointment of Dan Kramer as executive vice president of CSD. Kramer will direct and oversee the CSD strategy and execution for BNY Mellon's Asset Servicing business. Kramer, who reports to Shulman, replaces Andrew Bell, who retired from the company after 35 years of service.
'Dan will be a valuable member of the team as we work to drive innovation and excellence in our business operations', said Shulman.
Kramer, 52, joins BNY Mellon from J.P. Morgan, where he was a managing director and head of Fund Services Operations and the Fund Services business. Prior to J.P. Morgan, he served as chief operating officer at Deutsche Bank Asset Management and in increasingly senior roles at Morgan Stanley and Merrill Lynch, covering a wide range of areas in the global securities industry, including money markets and repo finance, securities lending, prime brokerage and equities.
Kramer has a bachelor's degree from Brown University in Applied Mathematics and Economics.