BNY Mellon Jumps on Blockchain Bandwagon

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BNY Mellon, a global leader in investment management and investment services, announced today that Christopher Mager has been named to lead the newly created Global Innovation Group in the company’s Treasury Services business to explore Blockchain and Distributed Ledger Technology (DLT). The innovation group was launched to secure BNY Mellon’s position as a leader in incorporating new ideas and technologies that bring the best possible service to BNY Mellon’s clients.

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“It’s clear that the global payments industry is undergoing a dramatic change as new technologies are being introduced, global payments are rapidly increasing, and banks are under unprecedented pressure to improve the payments experience they deliver to their clients,” said Ian Stewart, executive vice president of BNY Mellon and chief executive officer of the Treasury Services business. “The Global Innovation Group was created to help us meet the challenges of this period of transformation.” 

Mager, a managing director, is responsible for driving Treasury Services’ global innovation process which includes management of strategic innovation projects, identifying and screening promising business concepts, evaluating and implementing new technology, assessing financial technology firms (fintechs), and developing and guiding the group’s thought leadership around emerging payment technologies such as Blockchain and distributed ledgers.

The new group is part of the Treasury Services’ Global Product Management sector and will work closely with product management groups to bring new capabilities to clients. Mager reports to Anthony F. Brady, managing director and global head of product management.

“The global innovation team will play a key role in the launch of new technologies that will enhance the competitiveness of BNY Mellon’s Treasury Services group,” said Brady. “Innovation is vital to our ability to deliver market-leading solutions to clients so that we can continue to grow existing relationships and build new ones. Innovation also is critical to growing client satisfaction and the Treasury Services business.”

Mager had been head of market segments in the Treasury Services business, with responsibilities that included leading strategic development, product development, and sales and marketing strategy for several global markets including asset managers, broker-dealers, insurance, health care, and the emerging payment technology segment.  He has held a number of other leadership positions in Global Product Management and sales during his more than 20 years in Treasury Services.

He received his bachelor’s degree from Cornell University and his MBA from the Katz Graduate School of Business at the University of Pittsburgh. He is a Certified Treasury Professional and a graduate of both the BNY Mellon Leadership Development Program and the Harvard Business School High Potentials Leadership Program.

With locations on six continents and an extensive global network of correspondent financial institutions, BNY Mellon’s Treasury Services group delivers high-quality performance in global payments, trade services and cash management. It helps clients optimize cash flow, manage liquidity and make payments more efficiently around the world in more than 100 countries. Processing payment transactions in over 120 currencies, the company is a top-five participant in both the CHIPS and overall funds transfer markets.  The company is also a recognized leader in the delivery of private-label treasury services solutions for banks and other large institutional clients.

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of September 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or administration, and $1.72 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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