Bridget E. Engle

Bridget E. Engle
Senior EVP and CIO
Bank of New York Mellon Corporation

Last Updated: 04/25/2018

Executive Summary

Engle is Senior Executive Vice President and Chief Information Officer at Bank of New York Mellon Corporation, since June 2017. In this position, Engle leads the company's Client Technology Solutions group, which provides critical technology platforms and applications that support BNY Mellon's role as the leading provider of technology solutions to the financial markets. She is responsible for setting the strategic direction and execution of the firm's technology agenda. This includes advancing the firm's NEXEN digital investment platform, investing in and integrating industry leading applications, accelerating its digital and agile development efforts, and attracting and developing top IT talent. She most recently served as Head of Technology for Capital Markets Division at Bank of America. Engle spent six years at AT&T Bell Labs early in her career, working as a Systems Administrator and Applications Architect. This experience gave her a solid technical foundation for the challenging world of financial services IT, where she has spent the majority of her career. She spent more than a decade at Lehman Bros. and did short stints at Barclays Capital and DTCC before landing at Bank of America in 2010 as Chief Technology Officer for Consumer and Small Business Banking (CSBB) and Home Loans and Insurance.

Personal Attributes and Interests

  • Engle was nicknamed "Gadget" by her family.
  • She spent her high school years taking apart her car and tinkering with early versions of the personal computer.
  • In an interview with Crain’s New York Business, she said, "I like creating things, fixing things and understanding how things work. I had every gadget known to man."
  • Engle served as co-chair of the 2011 Women in Technology and Operations awards.
  • She has been a guest speaker for The Bond Market Association, SIFMA, The Department of Defense and Venture Services community groups.
  • During the Sept. 11 terrorist attacks, Engle was one of the 750 Lehman Bros. employees who escaped their offices at 1 World Trade Center. Engle had developed a business web portal called LehmanLive, which became crucial after the attacks and thousands of Lehman employees were working at hotels, temporary offices or from home. "It's about engineering everything to be always available, always resilient," she explained. 
  • Engle had always planned to go to school full time to get a Bachelor's degree, but a series of jobs ate up all her time. 
  • In the Crain's New York Business article, Engle admitted she had hooked up her BlackBerry to the GPS and tracking device in her then-teenage son's car. She received an alert when he went outside the boundaries or exceeded the speed limits she set for him.
  • While not in the office, Engle is an avid swimmer -- she used to swim competitively -- and has passed that love on to her children, who are now also getting into surfing. She has a swimming performance monitor wristwatch, which represents the synergy of her two passions.
  • Engle was one of several Bank of America employees attached to a patent for a "Software Development Standards Compliance System" filed in May 2014.

Current Focus

  • Company Snapshot: The Bank of New York Mellon Corporation, commonly referred to as BNY Mellon, is an American multinational banking and financial services corporation formed on July 1, 2007 as result of the merger of The Bank of New York and Mellon Financial Corporation. The company employs more than 51,200 staff worldwide and has more than $1.6 trillion in assets under management and $29.5 trillion in assets under custody and administration. It operates in six primary financial services sectors including advisory services, asset management, asset servicing, broker-dealer, issuance services, treasury services and wealth management. It is the oldest banking corporation in the United States, tracing its origins to the establishment of the Bank of New York in 1784 by Alexander Hamilton.
  • Current Role: Reporting directly to CEO Gerald Hassell, Engle leads the client technology solutions group with specific responsibility for setting the strategic direction and execution of the firm's technology agenda. She leads the company's Client Technology Solutions group, which provides critical technology platforms and applications that support BNY Mellon's role as a provider of technology solutions to the financial markets, the company said on its website. Her responsibilities also include accelerating its digital and agile development efforts, and attracting and developing top IT talent. "I look forward to collaborating with partners across the firm to further advance the industry leading technology platforms and applications of BNY Mellon and develop the technology architecture for the future, to best serve clients and the financial markets," said Engel. As part of her appointment Engle will also join BNY Mellon’s executive committee. "Technology innovation is at the heart of what we do, and Bridget's leadership, proven industry expertise and her focus on aligning technology solutions to create value for clients will support our ambition to be the investment industry technology leader," said Hassell.
  • Bolstering the Team: BNY Mellon has named another senior technologist to help enhance its digital investor services platform, Global Custodian reported in April 2018.  According to the article, Hood Qaim-Magami has been appointed head of client service delivery technology and shared/corporate services technology, reporting to Engle.  “His work will help foster closer relationships between technology and the business, and will strengthen our resiliency and risk culture,” Engle said.  The bank's CSD division manages investment monitoring, measurement, and processes services for fund administration, transfer agency, and outsourcing.  Qaim-Magami is the latest high-profile appointment for the bank's revamped technology team.  Last month the custodian appointed Bank of America’s former chief operating officer for global markets technology, Nancy Reyda, in a similar role and Joseph Sieczkowski head of technology architecture and data.
  • Business Update: In April 2018, CEO Charles Scharf updated investors on the company's priorities.  "We continue to invest in our markets capabilities in the form of people, technology and ultimately additional capabilities," he began.  "While early days, we see signs that our investments are just beginning to pay-off. I mentioned that we saw increased activity in FX, and we believe that the investments we have been making are allowing us to see increased volume from existing clients and are beginning to attract new clients."  He continued: "We were also the first to launch a new API that helps dealers improve funding efficiency, what this means is that the assets can be costed [ph] anywhere, so optimization can occur irrespective of the location of assets. Given the scarcity of high-quality liquid assets clients wanted a way to optimally allocate collateral, which in high volume trade environment can be done by hand, a sophisticated algorithm was needed and we delivered it."  He said the bank is expanding its payment transformation efforts through Zelle.  "This is an important part of our strategy to provide value-added services to our clients and the growth area for us. The pipeline remains strong reflecting significant opportunities," he explained.  "In investment management, we've been focused on our performance and we've been consolidating funds as well as launching new ones to meet the marketplace demands for the non-traditional investments, which as we talked about at Investor Day are core to our strategy," he said.  "Finally, the consolidation of our North America businesses we announced last November is going well and both client and consultant reaction has been positive. We're also investing in new talent to help grow the business including key hires during the quarter to oversee investment strategy, consultant relations, and trading."  Scharf concluded his remarks: "We're focused on increasing our rate of revenue growth and while this will happen overtime, we continue to believe we can do this without sacrificing operating margin. And we will do this while investing in technology, operations and in our people both in infrastructure new solutions particularly focused on those that are data-driven and digital."
  • Tech Focus: New CEO Charles Scharf "worked with Apple Inc. and Google to turn Visa Inc. into a tech-savvy competitor," Bloomberg noted in July 2017. "Now, as the new CEO at Bank of New York Mellon Corporation, he plans to keep his focus on technology, pushing the giant custody bank to innovate and stay relevant." "Technology is always at the center of financial businesses,” Scharf said in an interview after BNY Mellon announced his appointment. “We have to make ourselves slightly uncomfortable as we evolve and change. If you don’t do it, someone else will.” BNY Mellon, which was founded in 1784 by Alexander Hamilton, has been investing heavily in technology with a goal of automating more of the bank’s processes and cutting costs. Scharf, who led Visa for four years until December 2016, introduced new technologies there to improve payment system security and transformed the platform by opening access to its network. “We expect him to lead BNY down the path toward further technological and digitization improvements,” said Brian Kleinhanzl, an analyst at KBW. “Given his solid track record at Visa, we do view him as a capable CEO.”
  • Business Priorities: In April 2017 CEO Gerald Hassell told analysts:
    • "Our top priority is enhancing the client experience and driving profitable revenue growth...In Investment Services, we've been investing in cutting-edge collateral optimization and management solutions that we delivered to both the buy-side and the sell-side...Another area of investment has involved building best-in-class technology and middle-office services that enable asset managers to leverage our scale and expertise...We have a high tech and a high touch approach to servicing our clients, investing in the digital experience and adopting a common discipline and approach that further improves how we interact with our clients.
    • Our second priority is executing on our business improvement process to create efficiency and quality benefits for our clients and reduce technology and operations and structural costs for ourselves...we continue to increase our use of robotic and cognitive technologies to drive efficiencies and productivity. We have increased the number of bots in production from about 150 bots at year-end to over 220 at the end of the first quarter. And this speaks to the success of our early efforts on this front. Those bots are automating certain task which is improving accuracy and decreasing processing time by as much as 50% to 80% depending upon the function...We still have a solid pipeline of opportunities to expand automation, further rationalize our real estate footprint and reduce vendor cost, which will help us to further reduce costs and improve our operating margin.
    • Now our third priority centers on being a strong, safe, trusted counterparty. During the quarter, we upgraded and streamlined risk reporting and making the enterprise much more resilient. And we continue to expand the global footprint of our risk and compliance organization to gain access to top qualitative and quantitative talent capabilities outside of the U.S.
    • Our fourth priority involves generating excess capital and deploying it effectively. We remain focused on maintaining a strong balance sheet, including strong capital and liquidity positions while returning significant value to our shareholders...
    • Our fifth priority is attracting, developing and retaining top talent. To win the competition for talent, we are investing in our people and our culture, creating workplaces that support a diverse flexible and adaptive workforce and holding everyone accountable for results. Our Workforce Excellence Program, which we are expanding in 2017 is transforming our workplaces into efficient and collaborative spaces that leverage the full capabilities of our technology. The program is strengthening the company's resiliency, making us more agile and reducing our operating costs."
  • Automate Data Center Tasks: Bank of New York Mellon is building a voice-controlled artificial intelligence platform that can help the company’s IT staff manage enterprise storage, according to an April 2017 WSJ article. Alexis, which stands for “artificial language experience intelligence simulation,” was built out in 2016 with the help of a few interns. Three systems engineers from BNY Mellon’s platform architecture team began earlier in 2017 to work on the virtual assistant technology with Tintri Inc., which is one of BNY’s enterprise storage vendors. By fall 2017, the internal, proprietary AI chatbot called Alexis is expected to be available to thousands of IT employees in an effort to help them automate manual storage-related tasks. The company also plans to offer the Alexis virtual assistant technology to all 55,000 BNY Mellon employees around the world, who will be able to use the chatbot for human resources questions and technical help. IT employees will be able to communicate by voice or text with Alexis, integrated with the enterprise collaboration tool Skype for Business, on a desktop. “Instead of having to find out and memorize how to do very mundane tasks, somebody will be able to ask a question or pose a command to (Alexis) in a very natural way and then have that action be completed,” said Marek Kwasniewski, vice president and head of platform architecture. At BNY Mellon, Kwasniewski anticipates that Alexis will help IT employees who manage and provision storage save up to 20 minutes on manual tasks they might need to do multiple times a day, which involve logging into various systems and pulling information from each. This ChatOps model, in which employees work with chatbots to get tasks done, means the company can “give people back time,” Kwasniewski said. “We want them to do knowledge work, we want them to be innovative,” he said. BNY Mellon’s engineers are working on the project with Tintri, which provides an enterprise cloud storage platform and products for virtual machines, and is backed by $260 million in venture capital funding.

Biographical Highlights

  • Born in 1964
  • Engle earned an associate degree from Middlesex County College in New Jersey.
  • Analyst, Donald Sheldon and Company (1985-1986)
  • AT&T Bell Laboratories (1985-1991)
    - Systems Administrator
    - Applications Architect
  • Lehman Brothers (1991-2008)
    - Held various positions, Lehman Live and Infrastructure Technologies (1991-1997)
    - Architect, firm’s web portal as a standard delivery vehicle for all of Lehman’s electronic processes
    - SVP and Global Head, E-commerce Technology (1997-2002)
    - CTO (2002-2006)
    - CIO and Global Head, Business Continuity (2006-2008)
  • Managing Director, Barclays Capital (2008-2009)
  • Managing Director and CTO, Depository Trust and Clearing Corporation (DTCC) (she was responsible for overseeing the critical information technology infrastructure, including core network services, processing and messaging systems, distributed systems and business continuity) (2009-2010),
  • Engle joined Bank of America Corporation in 2010 and has since held the following positions:
    - CTO, Consumer and Small Business Banking (CSBB) and Home Loans and Insurance (2010-2012) (In this role she was responsible for leading the team that supports strategy, architecture, design and build, operations, engagement and product delivery of technology infrastructure for her divisions.)
    - CIO, Retail Technology and Operations (2012-2015)
    - Head, Technology, Capital Markets Division (2015-2017)
  • Senior EVP and CIO, Bank of New York Mellon Corporation (2017-Present)
  • In 2007, Crain’s New York Business named her as one of the "100 Most Influential Women in NYC Business."
  • She was named one of technology’s "Top Power Women" by Forbes.com.

Other Boards and Organizations

  • Member, SIA Business Continuity Committee
  • Member, Tibco CIO Council
  • Member, CIO Customer Advisory Council, Intel Corporation
  • Member, Customer Advisory Council, Hewlett Packard Company
  • Member, Board of Directors, NPower (2012-Present)



Contact Information

225 Liberty St.
New York, NY, 10286
United States

212-495-1784

bridget.engle@bnymellon.com


Boardroom Insiders Executive Profiles and CEO Biographies

Personal Interests

  • Swimming