Bank of New York Mellon may be the nation’s oldest bank, but it’s urgently trying to solidify its status as the essential technological backbone of the financial services industry. Charlie Scharf, the former head of Visa, may be the one to lead it there.
Scharf, 52, was hired on Monday as CEO of the $338 billion-asset custody bank. Scharf replaced Gerald Hassell, 65, in that role and will succeed him as chairman on Jan. 1. Scharf had been a free agent since leaving Visa in December.