Canadian-Born Executive Turned Down CEO Offer

Summary: The Canadian-born Robert Kelly who is the current employee of Mellon was offered to be the next CEO of the Bank of America. But then, Kelly turned down the offer.

A report by the Wall Street Journal said that a bank executive who is Canadian-born has turned down one of the most coveted job offers as CEO at the Bank of America.

The said job slot prospect, Robert Kelly of the Bank of New York Mellon Corp was approached by Bank of America recently to talk about the said offer to be the next CEO of the bank. Familiar sources of the said situation were quoted but unnamed. Again, according to them, the offer was turned down by Kelly.

Before having the current position at Mellon Corp, Kelly has been a chief financial officer at Wachovia Corp for 5 years. But prior to that job, this Nova Scotia-born accountant has served to be a Toronto-Dominion Bank executive. He attended St. Mary’s University in Halifax and for 19 years, he exercised his profession at TD where he handled the trading desk of the bank in the 80’s.

Now, Kelly was described in the report by the Journal to be a ‘shrewd deal-maker’ who was the known Pittsburgh’s Mellon Financial Corp and Bank of New York Co. 2007 combination key architect.

On the other hand, the present CEO of the Bank of America Mr. Ken Lewis is set to leave the position for retirement at the end of the year. It was also noted that he succumbed to pressure to resign last month due to his company’s Merrill Lynch & Co acquisition that led to a year of difficulty.

Because of the said scandal that caused bad issues in the Bank, the majority board of the largest United States bank by assets has agreed to prefer other candidates.