By Colin Kellaher
Bank of New York Mellon Corp. Chairman and Chief Executive Charles Scharf is leaving next month to become president and chief executive of Wells Fargo & Co., the banks said Friday.
Wells Fargo said Mr. Scharf will join as president, CEO and a member of the board on Oct. 21, succeeding C. Allen Parker, who has been serving on an interim basis since Timothy Sloan resigned in late March.
BNY Mellon said Mr. Scharf has stepped down as chairman and CEO, adding that Thomas "Todd" Gibbons, a 30-year company veteran, will serve as interim chief executive.
Joseph Echevarria, BNY Mellon's lead independent director, will serve as nonexecutive chairman.
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