BNY Trust has appointed a managing director and chief operating officer and scrapped the job of chief executive.
Financial services group BNY Trust, the joint venture between Bank of New York Mellon and Trust Company Australia, has appointed John McGee as managing director and Mike Thomson as chief operating officer.
McGee was a non-executive director on the board of BNY Trust and has worked in the mortgage and property industry for 20 years.
His most recent job was with real estate manager Rismark International where he was chief operating officer.
McGee also sits on the boards of biotechnology company Progenix and alternative investment specialist Westpac Funds Management.
Thomson is an internal appointment. He was previously chief executive of the firm, a position that no longer exists now that McGee has been made managing director.
BNY Trust was formed in 2005 and provides trustee services for debt issuers, including corporate and municipal debt, mortgage-backed and asset-backed securities, derivative securities services and international debt offerings.
Fund managers and annual performance reports brim with confidence, no matter how much money has been made or lost, but where does this leave the humble investor?... read more »
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