Bank of New York Mellon (BK) is separating the roles of president and chief executive officer.

The nation's largest custody bank said Friday that it has named Karen Peetz president amid a series of executive appointments that take effect Jan. 1. She will report to BNY Mellon Chairman and CEO Gerald Hassell, who currently holds the president's post.

Peetz, who currently heads BNY Mellon's financial markets and treasury services, will be responsible for global client management, regional management, treasury services and human resources.

Peetz joined BNY Mellon in 1998 after serving in a series of sales and business management posts throughout 16 years at JPMorgan Chase (JPM).

BNY Mellon also named Timothy Kearney chief executive officer of investment services. Kearney, who joined the company in 2000, currently heads BNY Mellon's asset servicing.

Brian Shea, the head of BNY Melllon's Pershing services unit, has been named president of investment services and head of the company's operations and technology group.

"Each of these executives shares a common passion for putting clients at the center of our business strategy and for delivering excellence in all that we do," Hassell said in a news release.

American Banker in October named Peetz as its No. 3 most powerful woman in banking in its annual ranking of the industry's 25 most powerful women. She was ranked most powerful in the 2011 rankings.

Peetz is a graduate of Pennsylvania State University and earlier this year was named chair of the school's board of trustees.

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