Ms. Karen B. Peetz has been the President of The Bank of New York Mellon Corporation since January 01, 2013 and serves as its President of BNY Mellon NA. Ms. Peetz served as the Chief Executive Officer of BNY Mellon’s Issuer, Treasury & Broker Dealer Services since July 2008.
She was Chairman of the Pennsylvania State University’s Board of Trustees when the Consent Decree with the NCAA was signed. Ms. Peetz has a Bachelor of Science from Pennsylvania State University and a Master of Science from Johns Hopkins University.
Bank of New York Mellon will pay $714 million to settle state and federal charges that it engaged in a scheme to defraud clients by systematically adding hidden spreads to foreign currency trades executed on their behalf, government prosecutors announced Thursday.
BNY Mellon, based in New York, “admitted the factual details of its fraud” and will fire certain executives involved in the fraud, including the head of products management, David Nichols, who was named as a defendant in the federal lawsuit, according to New York’s attorney general and the U.S Attorney’s office in Manhattan. The trust and custody giant also will “reform its practices to improve and increase the information it provides to its customers,” the joint release said.
BNY Mellon had foreshadowed the settlement last month in a Securities and Exchange Commission filing in which it said it was revising fourth-quarter earnings downward by $598 million to account for the anticipated deal.
State and federal fraud charges in the matter were filed in 2011. A former currency trader for BNY Mellon in Pittsburgh, Grant Wilson, was previously identified as a whistleblower in the case.
Total Calculated Compensation 5,532,958
She is connected to 225 board members in 6 different organizations across 7 different industries