BNY Mellon Asset Servicing has appointed James Slater to the newly created role of managing director and COO for global securities lending.

Mr Slater will report to Kathy Rulong, executive director of global securities lending, and will provide strategic direction for core securities lending functions, including securities trading and product development. Other key responsibilities include coordinating all department operations, execution across business sectors, and interfacing on risk identification and compliance. He will be based in Pittsburgh and also work out of offices in New York, London and Hong Kong.

Mr Slater has 20 years of experience in the financial services industry and was most recently senior vice president at CIBC Mellon, a joint venture between CIBC and BNY Mellon, responsible for its global securities lending, treasury and cash management operations. He was a member of the company’s executive management committee.

Mr Slater has been with CIBC Mellon since its inception in 1996 and was a key contributor to the formation of the joint venture.

Ms Rulong said: “Securities lending has undergone a fundamental transformation the past three years, and James’ wealth of experience will help BNY Mellon continue to strengthen its lending program while we meet our clients’ and borrowers’ changing needs.

“The new COO position will further the steps we’ve already taken to introduce best practices, improve operating efficiency, and leverage BNY Mellon’s extensive global presence and product capabilities. James will be a tremendous asset to me and our worldwide team.”