CIBC Mellon appoints president and CEO

CIBC Mellon has appointed Steve Wolff as the company’s new president and CEO, who left the same role at Nova Scotia Pension Services Corporation.

Wolff will take on his new role on 14 November, assuming responsibility for CIBC Mellon’s strategy and performance. He will also join the board of directors for CIBC Mellon Trust Company.

Wolff joins CIBC Mellon from the Nova Scotia Pension Services Corporation (NSPS) where he served as CEO and led the entity’s transition out of government to a nonprofit corporation accountable to a board of directors, strengthened governance structures and operating platforms, and sponsored the plans’ expansion into alternative investment classes.

“CIBC Mellon is well known and respected as a leader in its industry,” said Wolff

“As a client for many years, I know first-hand the importance the company’s highly engaged team places on putting clients at the centre of all they do.”

Wolff replaces Thomas Monahan, who announced in May 2016 he would retire after seven years of service, during which CIBC Mellon grew to C$1.6 trillion of assets under administration.

“Canada is a complex and unique investment marketplace, and Steve’s deep and personal understanding of the challenges and opportunities ahead will no doubt prove very valuable for CIBC Mellon and its stakeholders,” said John Ferren, senior vice-president, Finance, CIBC, and member of CIBC Mellon’s Boards of Directors.

“Steve joins a strong and dynamic team and has the vision to lead CIBC Mellon forward as Canada’s leader in asset servicing.”