The Bank of New York Mellon Corporation has appointed Dermot McDonogh as chief financial officer, effective 1 February next year, when he takes over from Emily Portney. McDonogh will join the company and executive committee in November.
Portney will then assume a new role leading the company’s treasury services, credit services, and clearance & collateral management businesses. She will continue to report to BNY Mellon’s CEO and serve on the executive committee.
McDonogh joins BNY Mellon from Goldman Sachs, where he has worked for over 25 years, most recently as chief operating officer for EMEA and CEO of Goldman Sachs International Bank.
He was a member of Goldman Sachs’ firmwide risk committee, firmwide asset liability committee and European management committee. Prior to assuming his current role, he was the firm’s international controller. He joined Goldman Sachs in 1994 as a product controller in the finance division.
“We are thrilled to welcome Dermot to BNY Mellon,” said Robin Vince, CEO-elect of BNY Mellon. “Dermot has exceptional experience in finance and financial operations as well as leadership across global teams and dynamic international environments.”