Bank of New York Mellon Corp. said it has hired Elizabeth Engel as head of private bank lending, a newly created role that gives her oversight of the asset manager's credit administration, underwriting, and portfolio risk management.

Ms. Engel previously headed the U.S. lending operations at Deutsche Bank AG's private wealth management group. Before that she worked for JPMorgan Chase & Co.'s private banking business.

Bank of New York Mellon announced the hiring Wednesday.

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