Welcome to our dedicated page for Bank of New York Mellon Corporation news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank of New York Mellon Corporation stock.
BNY, officially known as The Bank of New York Corporation (NYSE: BK), stands as a global leader in the financial services sector. With a rich heritage dating back over 240 years, BNY offers a comprehensive suite of services aimed at managing and servicing financial assets for institutions, corporations, and individual investors.
Operating in 35 countries and more than 100 markets, the company provides investment management and investment services with unparalleled expertise. As of March 31, 2024, BNY oversees an impressive $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. This makes BNY the world's largest global custody bank, serving as a vital partner to its clients by facilitating the creation, trading, holding, managing, servicing, distributing, or restructuring of investments.
BNY's client base includes over 90% of Fortune 100 companies, nearly all the top 100 banks globally, and an extensive roster of governments, pension plans, and more. The company's vast influence and industry leadership are further cemented by its recent collaborations and initiatives aimed at democratizing financial services. These include strategic partnerships with minority depository institutions (MDIs) such as Ponce Bank, along with other mission-driven financial firms like Optus Bank, MoCaFi, and IntraFi.
One of the latest milestones for BNY is the enhancement of Pershing X's Wove platform, which aims to revolutionize wealth management by providing interconnected advisory tools for registered investment advisors, broker-dealers, and wealth management firms. This innovation aligns with BNY's ongoing commitment to leverage cutting-edge technology for the benefit of its clients and the broader financial ecosystem.
With a workforce of over 50,000 employees worldwide and recognition from prestigious entities like Fortune and Fast Company for its workplace innovation, BNY continues to set industry standards. The firm remains dedicated to helping its clients achieve their financial ambitions by putting its extensive expertise and platforms to work, ensuring that money moves efficiently and securely across the globe.
BNY Alcentra Global Multi-Strategy Credit Fund (XALCX) has announced two significant distributions: a quarterly distribution of $2.00 per share and a special year-end distribution of $5.85 per share of common stock. Both distributions will be paid on January 3, 2025, to shareholders of record as of December 27, 2024.
The distributions will be taxable to shareholders in 2024, despite being paid in 2025. The Fund maintains a policy of quarterly distributions of net investment income, with flexibility to distribute less than the total earned amount to ensure stable distributions. The distribution strategy considers various factors including asset mix, portfolio maturity, hedging, and market conditions.
The Fund operates as a diversified, closed-end management investment company under BNY Investment Adviser, part of BNY Investments, which manages $2.1 trillion in assets as of September 30, 2024.
BNY High Yield Strategies Fund (NYSE: DHF) has announced a monthly cash dividend of $0.0175 per share, maintaining the same dividend amount as November. The dividend will be paid on January 13, 2025, to shareholders of record as of December 27, 2024, which is also the ex-dividend date.
The fund is managed by BNY Investment Adviser, part of BNY Investments, which manages $2.1 trillion in assets as of September 30, 2024. The parent company, BNY, oversees $52.1 trillion in assets under custody and/or administration.
Sanctuary Wealth has announced an expansion of its multi-custodial wealth management platform through integration with BNY Pershing's Wove platform. The enhanced Sanctuary One platform will provide partner firms with a comprehensive suite of tools including Wove Investor, Wove Data, and Wove Advisory through a single interface. The integration aims to streamline advisor workflows by enabling holistic asset viewing and offering portfolio construction tools, trading features, and an integrated client portal.
The platform's foundational framework is designed to accommodate future integrations without service disruption, allowing Sanctuary partner firms to improve client experience and operational efficiency. This technological enhancement supports Sanctuary's growth strategy through organic expansion, acquisitions, and partnerships with wealth management firms.
BNY (NYSE: BK) has announced the appointment of Rajashree Datta as Deputy Chief Risk Officer, effective December 15. Datta will join BNY's Executive Committee and is set to succeed Senthil Kumar as Chief Risk Officer in 2025 following a transition period.
Datta joins from Goldman Sachs where she served as Partner and Global Head of Finance Risk, overseeing Liquidity, Capital and Accrual Rate Risks. At Goldman Sachs, where she started in Investment Banking in 2000, she played a key role in developing risk management approaches, focusing on balancing business requirements, risk appetite, and regulatory expectations.
Conduent (NASDAQ: CNDT) and BNY (NYSE: BK) have announced a strategic alliance to provide comprehensive pension risk transfer services. The collaboration combines BNY's global payments and cash management capabilities with Conduent's expertise in pension account record-keeping and customer service.
The partnership aims to offer insurers and pension acquirers an end-to-end pension risk transfer solution operating in a single, comprehensive system. This integration helps companies with defined benefit programs address challenges related to high maintenance costs and risk management while ensuring continued support for plan participants.
BNY Municipal Bond Infrastructure Fund (NYSE: DMB) has declared a monthly distribution of $0.0300 per share of common stock, maintaining the same rate as November. The distribution is payable on January 2, 2025, to shareholders of record as of December 18, 2024, which is also the ex-dividend date.
The Fund aims to provide regular monthly distributions at a stable rate based on projected performance. The distribution policy is flexible, allowing the Fund to adjust payments based on market conditions and portfolio performance, potentially including accumulated undistributed income or return of capital.
BNY Investments, the Fund's investment adviser division, manages $2.1 trillion in assets as of September 30, 2024, while its parent company BNY oversees $52.1 trillion in assets under custody and/or administration.
BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) has completed its planned liquidation on November 25, 2024. The fund was managed by BNY Investment Adviser, part of BNY Investments, which manages $2.1 trillion in assets as of September 30, 2024. BNY Investments operates through seven investment firms and is a division of BNY, which oversees $52.1 trillion in assets under custody and/or administration. BNY, established in 1784, is America's oldest bank and operates as The Bank of New York Mellon (NYSE: BK).
BNY High Yield Strategies Fund (NYSE: DHF) has declared a monthly cash dividend of $0.0175 per share from net investment income. The dividend is payable on December 20, 2024, to shareholders of record at the close of business on December 6, 2024. The ex-dividend date is December 6, 2024. This dividend amount matches the previous dividend declared in October. The fund is managed by BNY Investment Adviser, part of BNY Investments, which manages $2.1 trillion in assets as of September 30, 2024.
BNY (NYSE: BK) has been selected by the U.S. Department of the Treasury's Bureau of the Fiscal Service as the financial agent for the Direct Express® prepaid debit card program. The 5-year agreement starts January 3, 2025, serving approximately 3.4 million Americans who receive federal benefits. BNY was chosen for its comprehensive customer service options, including online/digital funds access, bill pay, cardless ATM access, and omni-channel customer support. Mastercard® will continue as the payment network provider, alongside partners Galileo, MoCaFi, Senture, Sunrise Banks, and Ubiquity.
BNY (NYSE: BK) has announced it will release its fourth quarter 2024 financial results on Wednesday, January 15, 2025. The company will post materials to its website at approximately 6:30 a.m. ET, followed by a conference call and simultaneous live audio webcast at 12:00 p.m. ET on the same day.
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