BNY Mellon Appoints Dermot McDonogh as Next Chief Financial Officer

The Bank of New York Mellon Corporation (BNY Mellon) announced that Dermot McDonogh has been appointed as Chief Financial Officer (CFO) for the company, effective February 1, 2023. Mr. McDonogh will join the company on November 1, 2022, reporting to BNY Mellon's Chief Executive Officer (CEO), and he will join the Executive Committee.

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Ms. Portney will continue serving as CFO through January 31, 2023 and will work closely with Mr. McDonogh to ensure a seamless transition. Ms. Portney will then assume a new role leading the company's Treasury Services, Credit Services, and Clearance & Collateral Management businesses. The heads of these businesses will report to Ms. Portney from February 1, 2023. Ms. Portney will continue to report to BNY Mellon's CEO and serve as a member of the Executive Committee.

"We are thrilled to welcome Dermot to BNY Mellon," said Robin Vince, CEO-elect of BNY Mellon. "Dermot has exceptional experience in finance and financial operations as well as leadership across global teams and dynamic international environments. BNY Mellon is a destination for top talent, and the addition of Dermot to our firm will further enhance the strength of our industry-leading team."

As CFO, Mr. McDonogh's responsibilities will span global financial strategy and financial operations, including finance functions, controllership, Treasury, the Chief Investment Office, capital management, tax, corporate development, investor relations and the business CFO teams.

Mr. McDonogh joins BNY Mellon from Goldman Sachs, where he has worked for over 25 years, most recently as Chief Operating Officer for EMEA and CEO of Goldman Sachs International Bank. He was a member of Goldman Sachs' Firmwide Risk Committee, Firmwide Asset Liability Committee and European Management Committee. Prior to assuming his current role, he was the firm's international Controller. He joined Goldman Sachs in 1994 as a product controller in the Finance Division.