Bank of New York Mellon Chief Executive to Step Down

Bank of New York Mellon Corp. Chief Executive Todd Gibbons plans to retire, after a nearly three-year tenure in which he steered the custody bank through the upheaval of the coronavirus pandemic. According to a story in The Wall Street Journal, the company confirmed that it is naming Vice Chair Robin Vince to be its new CEO. Mr. Gibbons will step down on Aug. 31, with Mr. Vince serving as president and CEO-elect until then. Mr. Vince is also expected to replace Mr. Gibbons on the bank’s board.