Bank of New York Mellon Corp, the world's largest custodian bank, appointed former chief executive of Visa Inc Charles Scharf as its CEO, effective immediately. Bank of NY shares rose 2.5% premarket and are up 10.5% in 2017, while the S&P 500 has gained about 10%.
Groupe Renault first half vehicle sales rocket to 1.88m
In France, where the company's headquarter lies, Renault achieved its best half-year performance in passenger cars in six years. Worldwide sales of Renault under its Dacia brand rose 6% on the year to 584,219 units in 2016.
Before joining Visa, Mr. Scharf, 52, was a managing director of One Equity Partners, JPMorgan Chase's private investment arm, and served as chief executive of its retail financial services business from 2004 to 2011.
Hassell, 65, chief executive at BNY since 2011, served as its president since the merger of Bank of NY and Mellon Financial Corp in 2007 through 2012.
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