An Interview with Gerald Hassell, BNY Mellon Chairman and Chief Executive Officer

Gerald Hassell is Chairman and CEO of BNY Mellon. Over the course of almost four decades with the company, Gerald has led nearly every major division and served on the Board of Directors. We asked him to draw on that experience to reflect on the company’s commitment to CSR.

Does the financial services industry have a responsibility to society?

Each financial services company has a responsibility to apply its resources and knowledge to further the development of its communities and employees. Over time, that role has expanded to support the needs of the global financial marketplace. Our company was founded in 1784 to support the goals of the U.S. government, address the needs of the New York local merchants and residents, and spur the growth and development of the community at large. And, we continue to do so today. We also have a responsibility to shareholders and, as we’ve demonstrated again and again throughout our history, doing the right thing for society is critical to building long-term shareholder value.

Today, as a global financial institution, we understand how important we are to the financial system and embrace the responsibility to be leaders in terms of capital strength, risk management and integrity.

How does BNY Mellon contribute to society at large?

The work we do at BNY Mellon matters. The proof is in our history. Our company has helped society advance by financing critical infrastructure and connecting markets and investors. We made the first loan to the U.S. government, helped finance the Erie Canal and the New York subway system, and helped underwrite many new businesses that have become industry leaders.

Today, we continue to contribute. Our purpose is to power global investments to help our clients succeed. We are one of the world’s leading investment managers, and we service more of the world’s financial assets than any other company.

For example, we manage and service the assets of many large pension plans. We ensure that those assets are safe and their investment guidelines are adhered to, and we provide reporting to help plan sponsors make smart investment decisions. Many of those plans look to us to manage some portion of those assets, counting on us to help them achieve investment returns to meet their obligations — to make sure that retirees continue to receive their pension checks.  Sometimes, we’re helping an endowment raise funds to support vital programs in the community. Other times, we’re helping municipalities build roads or hospitals. We are invested in our world.

What is BNY Mellon’s role in supporting financial market integrity?

We are not like other global banking organizations. Our company does not offer credit cards, auto loans or other retail products to retail consumers. 

We are an investments company that provides investment management and investment services. Our services help major financial institutions access funding and support the operational infrastructure of the global capital markets. Through our clearance, advisory, global markets, and treasury services and asset management platforms, we facilitate the trading, settlement and distribution of client assets around the world. 

We have used our expertise to implement certain risk-reduction improvements in the market infrastructure and will continue to make additional improvements to do our part to ensure that the global markets are safe, effective and run smoothly. We also contribute to the health of global markets and earn our clients’ trust every day by upholding the highest standards of ethics and integrity in our practices and products. At BNY Mellon, we know that well-functioning markets are vital to the stability of our business and to global economic growth.

What is BNY Mellon striving to achieve in 2013? 

Beyond our work to sharpen client focus, drive excellence and create organic growth, we care about our people.  Improving opportunities for learning and development is something our employees have asked for.  We’re in the midst of creating a world-class corporate university that will offer a wide range of learning opportunities for all of our employees. It will better equip us to collaborate, innovate, live our brand and deliver excellence to our clients.