Attorneys are not the type to run from pressure, but even by those standards, Jane Sherburne, Bank of New York Mellon’s new senior vice president and general counsel, has spent most of her career managing game-changing crises in the highest levels of government, education and financial services.
In the mid-1990s, Sherburne was a special counsel to President Clinton, helping his administration mount defenses against the Whitewater, Travelgate, and billings records ethics investigations. Then she was co-lead outside counsel for the University of Michigan, for its successful defense of its affirmative action program before the U.S. Supreme Court.
After that, she began putting out fires at large banks. At Citigroup [C], Sherburne was general counsel for the global consumer group, and helped defend it against accusations of wrongdoing in the Enron Corp., WorldCom and Parmalat scandals. She also represented Citi through litigation and regulatory issues stemming from the recent credit and mortgage market upheavals.
In June 2008, Sherburne was hired by Wachovia Corp. to be its general counsel. Among its legal troubles, Wachovia had received subpoenas related to its issuance of auction-rate securities, and it was named in three class-action lawsuits. Since 2009, Sherburne has run her own legal practice, specializing in crisis advising and congressional investigations.
Although BNY Mellon [BK] has not generated the same legal troubles as other large banking companies, it has had major headaches to contend with. Shortly after it paid $136 million to repurchase warrants for its own shares under the Troubled Asset Relief Program, it reached a $14 billion settlement with Russia’s Federal Customs Service over accusations that one of its vice presidents helped Russian citizens illegally wire transfer money out of the country via Bank of New York accounts.
Sherburne, who started at BNY Mellon Monday, will also be a member of its executive committee. “This is an exciting time to be joining an organization at the forefront of its industry,” she said.
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Also on the move this week:
Citi Private Bank hired Andrea Rossato as a senior vice president and ultra high-net-worth private banker in its Los Angeles office, beginning in June. She was a vice president and private banker for Deutsche Bank Private Wealth Management.
Hatteras Funds, which is based in Raleigh, N.C., hired Caron R. Brown as director of national accounts, Joseph T. McMenamin as a regional director of the northeast territory, and John W. Vaughn as a regional director for the recently created New England territory. Brown was vice president and senior relationship manager for J.P. Morgan Asset Management [JPM]. McMenamin was a senior vice president and divisional sales manager for the east coast region for Allianz Global Investors. Vaughn was a vice president and regional director in the wealth management solutions group at Boston-based Eaton Vance.
Hilliard Lyons, of Louisvile, Kent., promoted Charles M. Grimley to executive vice president and chief financial officer. He has worked for the company since 1998, and most recently was senior vice president, controller and acting CFO.
MassMutual, based in Springfield, Mass., hired Molly Knapp as a managing director covering Northern California and Alaska. She was a regional sales director for OneAmerica/AUL Retirement Services. MassMutual also promoted JF Mannina to a relationship manager for its client service team in the New York City area. Mannina, who joined MassMutual in 2005, was an investments management director in its retirement services division. MassMutual also hired Wayne Roth as director of worksite solutions. He was a retirement resources consultant for Principal Financial Group.
Multi-Financial Securities Corp., based in Denver, hired Kevin Starkey as its director of recruiting. He was a senior vice president for Mount Yale Capital Group, also in Denver, where he was responsible for generating new business and managing key relationships in the western United States.
Putnam Investments promoted Kelly Marshall to head of investment product management heading up product development and management across its retail, retirement and institutional business lines. Marshall joined Putnam last year as director of market planning and analytics.
Transamerica Retirement Services hired John Low as a central regional vice president, overseeing sales in central and eastern Missouri, southern Illinois, and western Tennessee. He was a regional vice president for Nationwide Financial.