Jim Crowley, chief operating officer at BNY Mellon's Pershing, will take over as the firm's chief executive officer starting in July. Crowley will replace current CEO Lisa Dolly, who plans to take on a chairman position at the firm for the remainder of 2019.
The two executives have worked closely together in recent years, sharing an office. Dolly leaves Pershing after three decades at the firm, previously serving as its COO in 2013 before being promoted to CEO in 2016. Pershing is not releasing any specific information on where Dolly is headed next.
"We respect Lisa's desire do something different after over 30 years at one firm, and we are grateful to her for her leadership and many contributions," said Todd Gibbons, vice chairman and chief executive officer of BNY Mellon's Clearing, Markets and Client Management business.
Crowley has also been at Pershing for decades, at one point working on the floor of the New York Stock Exchange. Over the years, he worked his way to the position of chief relationship officer before moving to his current role as COO.
"A Pershing veteran of more than 35 years, Jim brings to the role unrivaled knowledge of our clients, systems and operations. This is an exciting time for Pershing as the company continues its investment to accelerate growth in the wealth management and financial advisory industry," Gibbons said in a statement.
