Tom Renyi

Last updated

Tom Renyi (born 1947) is the former chairman and chief executive officer (CEO) of the Bank of New York Company, a position he held since 1997. He is also the former executive chairman of The Bank of New York Mellon Corporation, following BNY and Mellon's merger on July 1, 2007.

Contents

Background

Renyi graduated from Rutgers University with a BA in business administration in 1968 and an MBA from the Rutgers Graduate School of Management in 1969. He also served as a first lieutenant of military intelligence with the US Army in Vietnam.

For years Renyi has been considered by his peers as a distinguished leader in the financial services industry. He serves on the board of executives at the New York Stock Exchange and the board of directors of Public Service Enterprise Group Incorporated and the New York Clearing House. Renyi has successfully directed The Bank of New York's transformation from a traditional commercial bank to a global leader in securities servicing. In 1989, he headed the transition team responsible for integrating the Irving Trust Company into The Bank of New York, the largest merger in the United States banking industry at the time. Since becoming chief executive officer in 1997, Renyi has accelerated the banks strategic evolution through 54 acquisitions, including RBS Trust in 1999 and Pershing LLC in 2003.

During the Bank of New York Scandal

On September 22, 1999, Renyi testified before United States House of Representatives and United States Senate hearings, conducted in 1999 and 2000, amidst the Bank of New York scandal, during which billions of dollars from Russia were laundered through the Bank, which has long been considered one of the most respected financial pillars of America. Renyi admitted that allowing the suspect accounts "to remain open and active without sufficient questioning was a lapse on the part of the bank." [1]

Notes

  1. Terrorism and Money laundering, American Russian Law Institute

Related Research Articles

<span class="mw-page-title-main">Canadian Imperial Bank of Commerce</span> Banking institution

The Canadian Imperial Bank of Commerce is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, in the largest merger between chartered banks in Canadian history. It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.

<span class="mw-page-title-main">HSBC</span> British multinational bank group

HSBC Holdings plc is a British universal bank and financial services group headquartered in London, England, with historical and business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.919 trillion as of December 2023.

<span class="mw-page-title-main">U.S. Bancorp</span> American bank holding company

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.

<span class="mw-page-title-main">Mellon Financial</span> Former investment firm located in the US

Mellon Financial Corporation was an American investment firm which was once one of the world's largest money management firms. Based in Pittsburgh, Pennsylvania, it was in the business of institutional and high-net-worth individual asset management, including the Dreyfus family of mutual funds, business banking, and shareholder and investor services. On December 4, 2006, it announced a merger agreement with Bank of New York, to form BNY. After regulatory and shareholder approval, the banks completed the merger on July 2, 2007.

<span class="mw-page-title-main">M&T Bank</span> American bank

M&T Bank Corporation is an American bank holding company headquartered in Buffalo, New York. It operates 1,000+ branches in 12 states across the Eastern United States, from Maine to Central Virginia. Until May 1998, the bank's holding company was named First Empire State Corporation.

Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corporation in 2003.

Irving Trust was an American commercial bank headquartered in New York City that operated between 1851 and 1988 when it was acquired by Bank of New York. From 1965, the bank was the principal subsidiary of the Irving Bank Corporation.

<span class="mw-page-title-main">KeyBank</span> American regional bank headquartered in Cleveland, Ohio

KeyBank is an American regional bank headquartered in Cleveland, Ohio, and the 25th largest bank in the United States. Organized under the publicly traded KeyCorp, KeyBank was formed from the 1994 merger of the Cleveland-based Society Corporation, which operated Society National Bank, and the Albany-headquartered KeyCorp. The company today operates over 1,000 branches and 40,000 ATMs, mostly concentrated in the Midwest and Northeast United States, though also operates in the Pacific Northwest as well as in Alaska, Colorado, Texas and Utah.

Manufacturers Hanover Corporation was an American bank holding company that was formed as parent of Manufacturers Hanover Trust Company, a large New York City bank formed through a merger in 1961 with ancestor companies having had a long history in New York banking. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufacturers Hanover Corporation. Throughout most of its existence, Manufacturers Hanover Trust was the fourth-largest bank in the United States.

The American Bankers Association (ABA) is an American trade association for the U.S. banking industry, founded in 1875. They lobby for banks of all sizes and bank charters, including community banks, regional and money center banks, Federal savings associations, mutual savings banks, and trust companies. The average member bank has approximately $250 million in assets. ABA is the largest financial trade group in the United States.

Gerald L. Hassell is an American bank executive and is the former chairman and CEO of The Bank of New York Mellon.

<span class="mw-page-title-main">BNY</span> American financial services company

The Bank of New York Mellon Corporation, commonly known as BNY, is an American international financial services company headquartered in New York City. It was formed in July 2007 by the merger of the Bank of New York and Mellon Financial Corporation. Through the lineage of Bank of New York, which was founded in 1784 by a group that included American Founding Father Alexander Hamilton, BNY is regarded as one of the three oldest banks in the United States and among the oldest in the world. It was the first company listed on the New York Stock Exchange. In 2024, it was ranked 130th on the Fortune 500 list of the largest U.S. corporations by total revenue. As of 2024, it is the 13th-largest bank in the United States by total assets and the 84th-largest in the world. BNY is considered a systemically important financial institution by the Financial Stability Board.

<span class="mw-page-title-main">Wachovia</span> Defunct banking company

Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.

<span class="mw-page-title-main">John McGillicuddy</span> American banker (1930–2009)

John Francis McGillicuddy was an American banking industry executive who oversaw the merger between Manufacturers Hanover Trust and Chemical Bank in the early 1990s.

<span class="mw-page-title-main">Jose Isidro Camacho</span> Filipino banker

Jose Isidro "Lito" Navato Camacho is a Filipino banker who served as the Philippines' Secretary of Energy and later on as Finance under President Gloria Macapagal Arroyo.

Walter Vincent Shipley II was the chairman and chief executive officer of Chase Manhattan Bank and, previous to that, the company with which it merged Chemical Bank. Shipley was named chief executive of Chemical in 1981 and held the position through 1999 and remained at the bank as chairman through January 2000, just prior to the bank's merger with J.P. Morgan & Co. During his 18-year tenure, Shipley oversaw Chemical's mergers with Texas Commerce Bank in 1987, Manufacturers Hanover in 1991 and Chase Manhattan Bank in 1996.

<span class="mw-page-title-main">Jeffrey A. Goldstein</span>

Jeffrey A. Goldstein is a United States economist who was Under Secretary of the Treasury for Domestic Finance from March 27, 2010, to 2011. Jeffrey is currently the chairman of the board of directors of Fidelity National Information Services (FIS).

<span class="mw-page-title-main">Insight Investment</span> British asset management company

Insight Investment (Insight) is one of the largest global asset management companies, responsible for £648 billion of assets under management as of 31 December 2023, represented by the value of cash securities and other economic exposure managed for clients. It manages strategies which include fixed income, liability-driven investment (LDI), cash, absolute return and multi-asset. Insight is a subsidiary of BNY, a multinational financial services corporation.

<span class="mw-page-title-main">Wolfsberg Group</span>

The Wolfsberg Group is an association of 12 global banks which aims to develop frameworks and guidance for the management of financial crime risks.

Rothschild & Co is a multinational private and alternative assets investor, headquartered in Paris, France and London, England. It is the flagship of the Rothschild banking group controlled by the British and French branches of the Rothschild family.