CEO welcomes the return of the newly appointed chief
CIBC Mellon has welcomed back Shane Kuros as chief business development officer, a move aimed at bolstering the company’s growth and innovation strategies, the company announced in a statement.
Kuros, who brings over three decades of experience in asset servicing and relationship development, both in Canada and internationally, will take charge of CIBC Mellon’s growth and business development functions. He will also rejoin the company’s leadership team. His return has been described to mark a strategic move by CIBC Mellon as it seeks to enhance its services and offerings in a competitive market.
Kuros previously held the position of global head of business development – banks, broker dealers, and advisors and Hedgemark at BNY Mellon. He also previously took on senior leadership roles in fund administration, investment analytics, risk and compliance, information delivery, and product management. Kuros is not new to CIBC Mellon, the statement noted, having formerly led the company’s global financial institutions team and served as head of business development, where he took on a pivotal role in establishing and expanding institutional mandates that continue to benefit the company.
Mal Cullen, chief executive officer of CIBC Mellon, expressed his enthusiasm about Kuros’ return. “I am so pleased to welcome Shane back to the CIBC Mellon team. He brings deep insights into the challenges and opportunities facing some of the world's most sophisticated institutional investors, as well as a proven track record of delivering client service and strategic growth in Canada and globally,” Cullen said. “As our global enterprise continues to innovate and transform to serve our clients, Shane is the right leader to help our clients capture opportunity and grow their businesses on the foundation of our enterprise innovation, data and technology capabilities. We are making significant, strategic investments in our platforms and technology solutions, including Eagle Accounting and Data Vault, to ensure that we can tailor the right combination of solutions for our clients.
Kuros expressed eagerness about his new role and focus on the Canadian market. “Canada is one of the most dynamic markets in the world, with pension plans and asset managers that are pioneering operating models that are examples in the world,” said Kuros. “There is no better place to grow with clients as they access better technology, global scale, and our dynamic open architecture and platform strategy. CIBC Mellon is bringing real innovation forward with true IBOR, middle office, AIS, and modular solutions. I look forward to all we will build together.”
Established in 1996, CIBC Mellon helps Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. It is jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). As of December 2023, CIBC Mellon has more than C$2.6 trillion in assets under custody and/or administration.
