Mellon Names New CEO, Fidelity Develops New Managed Account Programs, Bear Stearns and RiskMetrics Form Partnership Offering

Kelly Takes the Big Chair at Mellon, Fidelity and National Financial Roll Out New Managed Account Programs, Bear Stearns to Distribute RiskMetrics Platform

Mellon Financial Corp.’s board of directors appointed Robert Kelly as chairman, president and CEO, replacing retiring chairman and CEO Martin McGuinn. Kelly is currently CFO and senior executive vice president of Wachovia Corp. and will join Mellon in its Pittsburgh headquarters on February 13.

Kelly has served as Wachovia’s CFO since 2000. Prior to Wachovia, Kelly spent 19 years in senior management at Toronto Dominion Bank. He was voted best American large capitalization bank CFO in 2004 and 2005 in an analyst poll conducted by Institutional Investor magazine.

“With talented employees who are recognized throughout the industry, and a great mix of businesses, [Mellon] is unquestionably one of the world’s leaders in asset management and asset servicing and has been enjoying strong growth. I look forward to working with the employees at Mellon to create superior long-term shareholder value,” said Kelly in a statement.

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