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.
“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.