Bank of New York Mellon (BK) has named veteran banker Ian Stewart as the new chief executive of its treasury services business.

Stewart will be charged with leading the company's global payments, trade finance and cash management services in his new role, according to a Thursday press release. He succeeds J. David Cruikshank, who has been appointed as market segment leader for Bank of New York Mellon's corporate and public finance clients.

Stewart has been with Bank of New York Mellon and its predecessors for 30 years, serving in a range of senior positions. His previous roles at the company have include president of the company's capital markets, chief operating officer of its global client management group, and head of its global client management group for North America, developing markets and Europe, the Middle East and Africa.

Cruikshank joined Bank of New York Mellon 10 years ago, following stints at Citigroup (NYSE: C) and ABN AMRO.

Bank of New York Mellon has $27.6 trillion of assets under custody and $1.6 trillion of assets under management.

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