Bank of New York Mellon Corp. announced Tuesday that it has promoted Art Certosimo to its executive committee, which oversees the company's day-to-day operations.

Mr. Certosimo is an executive vice president and head of broker-dealer services and alternative investment services.

In that role he oversees the delivery of collateral management and securities clearance services to financial institutions and corporations globally, as well as administration services to hedge funds and private-equity funds.

Bank of New York Mellon is the largest U.S. securities clearance agent, handling half of all U.S. government clearing volume, and is the world's leading collateral management agent, servicing over $1.8 trillion daily.

Its alternative investment services business had more than $200 billion of assets under administration as of Dec. 31.

Overall the company had $928 billion of assets under management at yearend.

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