Lisa Dolly will step down from her position as CEO of BNY Mellon Pershing on July 1. The company's current COO, James Crowley, will succeed her as chief executive.
Ms. Dolly joined Pershing right out of college in 1988 and was named CEO in 2016. She will serve as chairman through the end of the year, acting as an adviser to Mr. Crowley, assisting with onboarding of new business and working with Pershing's largest clients.
Mr. Crowley has been with Pershing for more than 35 years. He will join BNY Mellon's executive committee and report to Todd Gibbons, vice chairman and CEO of clearing, markets and client management.
In a statement, Mr. Gibbons attributed the move to Ms. Dolly's "desire to do something different after over 30 years at one firm."
"Lisa and Jim have worked closely together for several years in both running the firm and in setting the strategic direction," Mr. Gibbons said. "Given this history and partnership, our clients can expect a seamless transition between now and the end of the year."