Mellon Financial Corporation, the US group, has appointed William Smith as business manager of its third-party securities lending unit.

He will be responsible for development, management and sales for Mellon's third-party securities lending, and will serve as a member of the management committee for Mellon global securities lending. A veteran of 18 years in securities lending and financial services, including 15 years with Bankers Trust, Smith was heavily involved in the integration of the Bankers Trust and Deutsche Bank securities lending businesses when they merged in 1999. He served as Deutsche Bank's global head of securities lending following the takeover. He holds degrees in economics and management from the State University of New York, and an MBA in business management from the Stern School of Business at New York University.