The Bank of New York Mellon Corp., the world’s largest custodian bank, said late Wednesday said that Robert Kelly stepped down as chairman and chief executive officer due to differences with the bank’s directors over his management.

Gerald Hassell, president and board member, has been named as Kelly’s immediate successor. Hassell, 59, had been with the former Bank of New York for more than three decades while Kelly led the new BNY Mellon since 2007. Hassell joined as a management trainee in 1973.

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