Mellon Bank Corp., plagued by credit losses in its card business, has hired an executive with expertise in risk management to run the operation.

Ray Duggins, 43, will join the Pittsburgh-based bank this month as senior vice president in charge of credit cards. Most recently he was vice president of credit risk policy at Sears Credit Group, which manages the giant retailer's private-label card.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.