Custody giant BNY Mellon has hired a former senior Nasdaq executive for a new role leading the growth of its exchange-traded funds business.

Jeff McCarthy, who was Nasdaq's vice president and head of exchange-traded product listings and trading, has been named CEO, ETFs. He will report to Frank LaSalla, chief executive officer of BNY Mellon's global structured products and alternative investment services business, according to a January 13 statement.