Ending the speculations of resignation, Bank of New York Mellon Corp Chief Executive Bob Kelly said that he would continue with his position in the bank and has no plan to join any other bank for the time being. Earlier, there were wide spread speculations of his joining Bank of America Corp a s Chief Executive Officer.

Distributing a memo to all Bank of New York Mellon employees, Mr. Kelly quashed the media reports regarding his resignation and said that he is very much comfortable with his position in the BNY Mellon.

Kelly, the former Chief Financial Officer of Wachovia Corp, further said, "As you may know I was approached by another bank as part of their CEO search process. It's not an opportunity that I sought. After talking with them, I firmly concluded that my place is here at BNY Mellon."

Analysts and investors hoped that the decision of Kelly would not impact the search process of the largest bank of US and it would continue its efforts to find a suitable candidate for the top post.

Walter Todd, Co-chief Investment officer at Greenwood Capital said, "I'm not going to sell the stock tomorrow because Bob Kelly said no."