BNY Mellon’s European chairman is set to leave the investment management giant after more than 30 years.
Michael Cole-Fontayn, who also currently sits on the government’s European Financial Services Chairmen’s Advisory Committee, will step down in December.
Hani Kablawi, chief executive of investment services across Europe, Middle East and Africa, will take up the position of head of Europe on an interim basis.
The status of Cole-Fontayn’s position on the European Financial Services Chairmen’s Advisory Committee (which advises the government on the City’s Brexit concerns) alongside the likes of Martin Gilbert and Lord Blackwell, is not clear at this stage.
Cole-Fontayn has worked for BNY Mellon since 1984 when he worked as a credit and risk analyst.
A graduate of Westminster University, he is also currently a board member of the Association of Financial Markets in Europe. In addition, he is a member of the advisory boards of TheCityUK and British American Business.
Read more: BNY Mellon has a new CEO