Dive Brief:
- BNY Mellon has appointed Jennifer Barker — formerly an executive at JPMorgan — as CEO of its treasury services business, according to a press release published Wednesday.
- Barker, who most recently served as head of client service and implementation of wholesale payments at JPMorgan, will take charge of the BNY Mellon unit May 2 and become a member of the bank’s executive committee.
- Barker succeeds Paul Adamo, who assumed interim control of the unit after Wells Fargo poached previous treasury services CEO Paul Camp from BNY Mellon in August.
Dive Insight:
BNY Mellon’s treasury services business provides domestic and international payments, U.S. dollar clearing, trade finance and liquidity management services to clients across the globe.
In her role, Barker will focus on digitizing the business to reduce paper consumption and the firm’s carbon footprint, the bank said. She'll also manage around 400 employees, a spokesperson for BNY Mellon told American Banker.
"Her established leadership in digital initiatives will amplify the investments in technology and partnerships with fintechs that we are making to ensure our offering remains both nimble and market-leading," Robin Vince, BNY Mellon's vice chair and CEO of global market infrastructure, said in the press release.
Barker will report to Vince and be based in Dallas.
BNY Mellon’s treasury services business collaborated with Verizon and Citi in September to launch real-time e-bills and payments for retail consumers, which allow Verizon customers with Citi accounts to use BNY Mellon’s functionality to pay their bills immediately, at any time.
The treasury services unit also pursued partnerships with fintechs and worked with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to become the first U.S. bank to offer the SWIFT Go cross-border payments system.
"Jennifer's comprehensive understanding of the entire treasury ecosystem, combined with her strong client focus, makes her the ideal leader to build upon the success and growth our Treasury Services business is experiencing," Vince said.
Barker joined JPMorgan in 2003, according to her LinkedIn profile.
