BNY Mellon has promoted Dan Watkins to lead its markets unit in Europe, Middle East and Africa, replacing Richard Gill, who announced his retirement earlier this year.
Watkins will oversee the growth of BNY Mellon Markets, in response to increase client demand ahead of ongoing regulatory and market structure changes.
Based in London, he will report to Michelle Neal, president of BNY Melon Markets group, with regional accountability to Michael Cole-Fontayn, EMEA chairman Michael Cole-Fontayn.
“Dan will play a central role in further optimising the Markets solution set to meet the evolving needs of clients,” said Neal in a statement.
Previously, Watkins worked as a strategy consultant at BNY since September 2016. Prior to that, he served on the board of fntech trading platform Squawker, having worked at firms including JP Morgan and Jardine Fleming Tokyo in the 1990s.
In 1999, Watkins co-founded LatentZero, a front-office software provider for the buy-side, where he served as CEO North America for 11 years. Fidessa acquired the business in 2007 for £63 million.
In his new role, Watkins will work alongside Gill until the end of March to “ensure a smooth transition.”
His appointment is subject to regulatory approval under the UK senior managers and certification regime, according to BNY.
With regards to the Markets business, the bank said it will "continue to asses opportunities as the market develops".
Gill served as head of BNY Mellon Markets in EMEA for less than a year. He was promoted to the role in April 2016 after over 20 years at the bank, with previous roles including co-head of foreign exchange trading and chief FX dealer.
Gill's retirement follows that of Jim Malgieri, head of collateral management and segregation at BNY Mellon Markets, who is set to retire this year, Global Investor reported on December 22.
Malgieri joined the bank in 2002 and went on to become chief executive of BNY's broker-dealer services business. His replacement is yet to be announced.