Kumar will replace current CIO John Fiore, a 2011 Bank Systems & Technology Elite 8 honoree, who has announced his plans to retire in June.
[Read more about BNY Mellon’s IT strategy.]
"We are fortunate to have a leader of this caliber to help us meet the technology needs of our clients and our company. Suresh brings to this critical role more than 25 years of experience leading complex technology initiatives and organizations within our company, as well as a market reputation for delivering innovative, state-of-the art solutions to clients," Woetzel said in a press release. "Suresh also is a proven champion of cross-business initiatives, including the development of technology as a competitive advantage and as a driver in achieving operational excellence."
Kumar was the chief architect of Pershing's open-architecture technology platform NetX360. He also was key to establishing iNautix Technologies India Private Limited, a technology affiliate of BNY Mellon that provides a wide array of critical development services. Kumar will continue to serve as CEO of iNautix.
Prior to joining BNY Mellon, Kumar was CIO of CSFBdirect and DLJdirect, which was a pioneer in online brokerage on Prodigy Network, America Online and the Internet with a global presence in Japan, Hong Kong, United Kingdom and Dubai. Among the awards and industry recognition he has received, Kumar was named CIO of the Year in 2006 by the New Jersey Technology Council. He also is a member of the Financial Industry Regulatory Authority Technology Advisory Committee.