Karen Peetz–Honesty and Integrity is an Issue For Her

Ms. Karen B. Peetz has been the President of The Bank of New York Mellon Corporation since January 01, 2013 and serves as its President of BNY Mellon NA. Ms. Peetz served as the Chief Executive Officer of BNY Mellon’s Issuer, Treasury & Broker Dealer Services since July 2008.

She was Chairman of the Pennsylvania State University’s Board of Trustees when the Consent Decree with the NCAA was signed. Ms. Peetz has a Bachelor of Science from Pennsylvania State University and a Master of Science from Johns Hopkins University.

Bank of New York Mellon will pay $714 million to settle state and federal charges that it engaged in a scheme to defraud clients by systematically adding hidden spreads to foreign currency trades executed on their behalf, government prosecutors announced Thursday.
BNY Mellon, based in New York, “admitted the factual details of its fraud” and will fire certain executives involved in the fraud, including the head of products management, David Nichols, who was named as a defendant in the federal lawsuit, according to New York’s attorney general and the U.S Attorney’s office in Manhattan. The trust and custody giant also will “reform its practices to improve and increase the information it provides to its customers,” the joint release said.
BNY Mellon had foreshadowed the settlement last month in a Securities and Exchange Commission filing in which it said it was revising fourth-quarter earnings downward by $598 million to account for the anticipated deal.
State and federal fraud charges in the matter were filed in 2011. A former currency trader for BNY Mellon in Pittsburgh, Grant Wilson, was previously identified as a whistleblower in the case.

Age 58

Total Calculated Compensation 5,532,958

She is connected to 225 board members in 6 different organizations across 7 different industries


Myke is #60 on the Ballot!!

Okay, we have 86 nominees running for Penn State Board of Trustees  for 3 seats!  Going to be quite a ride!  I will need the help and support of each and every one of my supporters to enlist support from everyone they know to vote.  All qualifiied alumni and contributors of the University will receive a ballot by snail mail and/or email.  Be sure to vote, and spread the word that Myke is #60 on the ballot!  If you have any questions, please contact me at PennStateMyke@aol.com.

Board of Trustees to Announce Candidates

The names of the candidates running for alumni seats on the Penn State’s Board of Trustees will be publicly announced this afternoon.

To be eligible for the election, candidates had to receive 50 nominations from fellow alumni and had to accept the nomination in writing to have their names placed on an election ballot, which is sent to the alumni.

All candidates were invited to attend a drawing that would determine the order in which their names will be placed on the ballot, Director for the Office of the Board of Trustees Paula Ammerman wrote in an email.

The name order will be chosen through drawing numbers or lots, Ammerman wrote. If a candidate cannot attend the drawing, a representative can take their place or authorize Ammerman to designate an individual to draw on their behalf.

The drawing and announcement will take place at the Penn Stater Conference Center Hotel at 1:30 p.m., Ammerman wrote. The venue was changed from the offices in Old Main due to spacing reasons.

According to Standing Order VI on the Office of the Board’s website, the president of the board must set a date for candidates to attend and place their “lots” or bids for their placement on the ballot. After all candidates have received their lots, the secretary of the board will establish an official order for the ballot.

Did YOU get a nominating ballot?

If you are a member of the alumni association and have not received your nomination ballot in an email, do the following:

Alumni trustees are elected, three each year for three-year terms, by the following procedure: On or before January 15 each year, nominating ballots are sent (1) to all alumni of the University who have, within two years prior to March 1 of each year, been either active members of the Penn State Alumni Association or contributors to the Penn State Fund, or (2) to any other alumni who make a request in writing for a ballot. (Alumni can request a ballot by sending an e-mail to BOT@psu.edu and provide the following: complete name; year of graduation; college/major; current e-mail and home addresses.)

I would appreciate your support by your naming me on your ballot. Thank you in advance.