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BNY Mellon Names Senior Figure As Corporate Trust Head

Editorial Staff

23 September 2023

has appointed Cécile Nagel as global head of the corporate trust, starting on 1 October, taking over from James Slater, who will retire at the end of September. 

Following the move, Nagel will stand down as head of BNY Mellon’s Pershing EMEA business, a post she held since 2022, when she joined the business. (This news service interviewed her, here.)

Nagel will be replaced by Dennis Wallestad, subject to corporate governance and regulatory approval, BNY Mellon said in a statement.

"Cécile brings a rich global understanding of market infrastructure, trading, and post-trade and is a proven senior leader with deep experience in transformation," Roman Regelman, senior executive vice president and global head of securities services and digital, said. Nagel will report to Rengelman.

Prior to joining BNY Mellon’s Pershing in 2022, Nagel was the CEO of EuroCCP, Europe’s cash equities central counterparty, and held several leadership positions at the London Stock Exchange Group.

In the case of Wallestad, he most recently served as chief financial officer and head of transformation for Pershing EMEA. He first joined the firm in 2002 as CFO of BNY Clearing, and served as the global CFO for Pershing and as the CEO, chief operating officer and chief financial officer for Pershing Australia. He has held various other senior positions throughout his career, including EMEA chief financial officer at JP Morgan.