Bank of New York Co. Inc. said Monday that it had promoted Karen B. Peetz, head of its global corporate trust business, to senior executive vice president and leader for the planned integration of the corporate trust business it has a deal to buy from JPMorgan Chase & Co.
The promotion comes after the company's April announcement that it has a definitive agreement with JPMorgan Chase to buy its corporate trust business. Ms. Peetz is to lead the combined businesses, putting her in charge of a corporate trust division with 90,000 clients, $8 trillion of total debt, and 3,700 employees in 55 offices spread among 20 countries, the company said.
Ms. Peetz joined Bank of New York in 1998 to head its domestic corporate trust business. She also managed its global payment services group before being named head of corporate trust in 2003. Previously, she worked for 16 years at JPMorgan Chase, where she had responsibility for client management and sales for the global trust services group as well as for management of domestic corporate trust.
She will continue to report to Brian G. Rogan, a senior executive vice president and head of the global issuer services, global markets, and securities lending sectors.
