Bank of New York Mellon has hired a JPMorgan Chase executive to lead its treasury services business.
Starting on May 2, Jennifer Barker will serve as CEO of the unit, which offers payments, U.S. dollar clearing, trade finance and cash management solutions to domestic and international clients, BNY Mellon said Wednesday.
Barker, who will be based in Dallas, will join BNY Mellon’s executive management committee. She will report to Robin Vince, vice chairman of BNY Mellon and chief executive of the firm’s global market infrastructure unit, according to a company spokesperson.
Barker’s duties will include maintaining BNY Mellon’s focus on its digital transformation as part of an effort to reduce paper use in the global payments and trade supply chain, the custody bank said.
“Jennifer's comprehensive understanding of the entire treasury ecosystem, combined with her strong client focus, makes her the ideal leader," Vince said in a press release.
"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."
Barker will succeed Paul Adamo, who has been overseeing BNY Mellon’s treasury services business for several months on a temporary basis after its former CEO, Paul Camp,
When Barker joins BNY Mellon this spring, Adamo is expected to return to his previous role as chief operating officer and chief financial officer for treasury services.
Barker, who most recently headed client service and implementation in JPMorgan’s wholesale payments unit, will oversee about 400 employees at BNY Mellon, according to the company spokesperson.
