EUROPE - The Bank of New York has named Robert Darmanin as head of European custody and pensions, taking over from Richard Beaven who has left the company.

Darmanin moves from the bank's New York-based investment management arm where he headed corporate finance, business development and client relationships.

He will be based in London and report to Stephen Richardson, head of investor services Europe. Beaven has joined information firm Reuters, a spokesman said.

"Robert's wealth of experience combined with his existing knowledge of the bank will be an excellent asset to this role as we build our custody and pensions business in Europe," Richardson said.

"His appointment will not only strengthen the bank's pension team, but also provide additional expertise when it comes to developing business strategies for the bank as a whole."

Darmanin joined the company when it bought JP Morgan's custody business. He was previously at the Bank of America, and was instrumental in the implementation of its global custody operation.