EUROPE – The Bank of New York has named Timothy Keaney to take over from Jeffrey Tessler as head of Europe.

The securities servicing bank said Keaney has been appointed executive vice president and head of Europe, succeeding Tessler, who has been in the role for six years.

Keaney will be based in London and report to vice chairman Alan Griffith.

Tessler will move to New York to become executive vice president for BNY Securities Group, BoNY’s global agency brokerage, clearing and financial services outsourcing arm.

In the new job Tessler would “coordinate strategic business development opportunities with the firm's largest institutional clients”.

Christopher Sturdy takes over from Keaney as head of depositary receipts while Michael Cole-Fontayn takes Sturdy’s position as head of international marketing for global issuer services

The bank’s chairman and chief executive Thomas Renyi said: "We are fortunate to have these executives moving to new leadership roles in key growth areas of our company.

Meanwhile the bank has named at Barclays Global Investors’ Kathy Brown as senior business consultant at BNY SmartSourceSM. And it has named Frank Froud and Ian Hards to its relationship management team.

Froud joins as managing director and client executive for UK fund managers from EMC while Hards joins as managing director and client executive for UK investment managers and country head for Scotland from IBM Consulting.