The world’s largest custodian has announced a senior reshuffle in its asset servicing division, creating a deputy-chief executive role and bringing its regional client management responsibilities under one head.

Vince Sands has been promoted to the newly-created role of deputy chief executive, reporting to chief executive Tim Keaney. A spokesman for BNY Mellon said Sands' new role was created to better streamline the management group. He said Sands will oversee business lines including securities lending and transition management.