CIBC Mellon has appointed Mal Cullen as CEO, effective 1 December 2022. He replaces Steven Wolff, who will retire after six years in the role. Cullen has been with BNY Mellon for more than 20 of his 30 years in asset servicing, most recently serving as head of global digital solutions and commercial strategy. He will remain on the CIBC Mellon Trust Company’s board of directors, and will be based in Canada as he takes on the CEO position. Wolff’s time as CEO saw CIBC Mellon reach more than CAD $2.3 trillion of assets under administration and offer a number of solutions for Canadian institutional investors. During the COVID-19 pandemic, Wolff strengthened the technology foundations of the bank, maintaining customer connectivity. Commenting on his appointment, Cullen says: “CIBC Mellon is known as a leader in asset servicing, with a tremendous team, engaged clients and a solid foundation as the Canadian arm of the BNY Mellon global asset servicing network. I am excited to help our clients transform their businesses and tap into the wide array of capabilities available through both BNY Mellon and CIBC.” Dan Smith, chair of CIBC Mellon’s board of directors, says: “Mal brings experience in key focus areas for clients including data innovation, digital solutions and transformation toward more agile data-centric operating models. He has extensive experience in the Canadian marketplace and a global perspective that will help move the joint venture forward. “We thank Steve Wolff for his strong leadership over the past six years and wish him all the best.”
