Phil Zywot has been appointed to managing director of securities finance at BNY Mellon following the 2013 merger of its securities lending desk with that of Canadian bank CIBC Mellon, Global Investor/ISF has learned.

Zywot was most recently vice president and head of trading on CIBC Mellon's securities lending desk.

A spokesperson for CIBC Mellon confirmed the appointment, stating that Zywot will be responsible for Canadian securities finance within BNY Mellon's Global Collateral Services business. 

He will continue to be based in Toronto and reports to Rob Chiuch, managing director and global head of equity finance at BNY Mellon.

In his new role, Phil takes on additional responsibility for expanding and enhancing service for BNY Mellon's global client base in the Canadian lending market, as well as working with Canadian players as they expand their participation in securities lending around the world through the BNY Mellon global network.

"Under Phil Zywot's proven leadership, the Toronto securities finance trading desk continues to provide outstanding service to CIBC Mellon and BNY Mellon clients in the Canadian marketplace," said Rob Ferguson, senior vice president, capital markets and product delivery, CIBC Mellon. "Phil has a deep understanding of the challenges and opportunities facing both borrower and lender clients, and his insights and leadership help position our clients for success."

The merger project involved incorporating the traders on CIBC Mellon’s securities lending desk, led by Zywot, as the Canadian arm of BNY Mellon’s global securities lending operations. The integration expanded BNY Mellon’s securities finance business and enabled it to leverage CIBC Mellon’s Canadian expertise.

“The integration of our respective trading desk teams last October represented the culmination of many productive years working together as partners in the CIBC Mellon joint venture and has enhanced how we are supporting our clients, both in terms of trading expertise and even deeper market coverage,” said Chiuch.

Zywot has more than 15 years of experience in securities lending, joining CIBC Mellon in 2004. He has held senior roles at CIBC Mellon, working across fixed income, domestic equity and international equity lending.

Phil has an honours degree in economics from the University of Toronto, as well as a derivatives market specialist (DMS) designation from the Canadian Securities Institute. He is also a certified financial planner (CFP).