BNY Adds McKinsey Veteran Malhotra to Board

BNY, one of the world’s largest asset-servicing and custody banks, is adding a seasoned adviser as financial institutions confront rapid shifts in technology, regulation and digital assets. Vikram Malhotra, a longtime McKinsey senior partner with extensive experience advising banks and corporate leaders, brings expertise in strategy, organizational transformation and financial services. His appointment strengthens the board’s capacity to oversee BNY’s modernization and risk agenda.

As of Aug. 14, 2026, BNY said it had elected Malhotra to its board. The week’s banking developments also included Citi’s acquisition of rewards fintech Kard, which supplies loyalty technology and merchant-funded offers to financial institutions; the companies did not disclose a purchase price. Other large banks adjusted credit-investment operations and their approaches to cryptocurrency regulation as digital-asset rules continued to reshape product and compliance decisions.