The new head of the wealth and investments business previously worked at Nuveen, and before that, at AIG, Merrill Lynch and JP Morgan.

BNY has appointed Jose Minaya as the new global head of its investments and wealth business, following Hanneke Smits' decision to retire.

Smits is continuing in her current role until September 3, at which point she will become chair of BNY Investments through the end of this year to support a smooth transfer. Minaya, who will also be joining the firm on September 3, will report to president and chief executive, Robin Vince.

Prior to this, Minaya worked at Nuveen, the global asset management firm that is part of TIAA. At Nuveen, Minaya worked as president and chief investment officer. Before joining TIAA in 2004, he worked for more than a decade at AIG, Merrill Lynch and JP Morgan. 

In other roles, Minaya is a member of the board of trustees of Manhattan College and the board of advisors of the Amos Tuck School of Business at Dartmouth, where he earned an MBA. He also serves on the boards of several companies and charitable organizations, including Moody's, the National Forest Foundation, the Investment Company Institute and the Investment Committee of the Board of Regents of the Smithsonian Institution.