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 (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.
BNY Alcentra Global Multi-Strategy Credit Fund announced the final results of its oversubscribed quarterly tender offer for up to 2.5% of its outstanding shares. Out of 388,049 shares tendered, the Fund will purchase 44,234 shares at $93.70 per share, with a pro-ration factor of 0.102095000. The Fund also announced tentative dates for 2025 tender offers, with the first quarter offer planned for January 17 - February 14, and second quarter offer for April 17 - May 15, subject to Board approval. The Fund intends to conduct quarterly tender offers for up to 2.5% of outstanding shares, though this is not guaranteed.
BNY (NYSE: BK) has announced the early redemption of its 5.224% Fixed Rate / Floating Rate Callable Senior Bank Notes due November 21, 2025. The redemption involves notes with an aggregate principal amount of $750 million. The redemption will occur on November 21, 2024, with holders receiving 100% of the principal amount plus accrued and unpaid interest. After the redemption date, the notes will cease to be outstanding and will stop accruing interest.
BNY Alcentra Global Credit Income 2024 Target Term Fund (NYSE: DCF) has announced details of its upcoming liquidation, scheduled for November 25, 2024. The Fund's trading on NYSE will continue through November 20, 2024, and suspend before market open on November 21, 2024. While the Fund's original objective was to return $9.835 per share (the original NAV) to shareholders upon termination, management indicates this target will likely not be met under current market conditions. The Fund will deviate from its stated investment strategy as it prepares for liquidation. BNY Investments, managing $2.1 trillion in assets, oversees the Fund through BNY Investment Adviser.
Buenaventura (NYSE: BVN), Peru's largest publicly-traded precious metals mining company, has announced its upcoming Analyst and Investor Day scheduled for December 10, 2024, in New York. The event will feature presentations from the company's senior management team, including the CEO, CFO, and various Vice Presidents overseeing operations, sustainability, business development, projects, and exploration.
The event will commence with breakfast at 9:00 AM ET, followed by presentations at 9:30 AM ET. Pre-registration is required by December 3, 2024, for in-person attendance. Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde, a significant Peruvian copper producer.
BNY (NYSE: BK) has announced its participation in the upcoming Goldman Sachs Financial Services Conference. Chief Executive Officer Robin Vince is scheduled to speak at the event on Wednesday, December 11, 2024, at 10:00 a.m. ET in New York. The presentation may include forward-looking statements about the company's financial outlook and strategic initiatives.
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 October. The distribution is payable on December 2, 2024, to shareholders of record as of November 20, 2024, which is also the ex-dividend date.
The Fund aims to provide regular monthly distributions at a stable rate based on projected performance. BNY Investment Adviser, part of BNY Investments, manages the Fund. BNY Investments oversees $2.1 trillion in assets under management as of September 30, 2024, while its parent company BNY handles $52.1 trillion in assets under custody and/or administration.
BNY (NYSE: BK) has successfully completed its acquisition of Archer Holdco, a technology-enabled service provider specializing in managed account solutions for the asset and wealth management industry. The acquisition, initially announced on September 5, 2024, strengthens BNY's position as a leading service provider supporting asset managers across all fund wrappers. Archer's comprehensive middle- and back-office solutions will be integrated with BNY's broader capabilities, serving institutional, private wealth, and retail investors. The deal positions BNY strategically in the managed accounts sector, which is experiencing rapid growth in the investment industry.
Buenaventura (NYSE: BVN) reported strong financial results for Q3 2024, with EBITDA from direct operations reaching US$ 132.4 million, a 149% increase from Q3 2023. Net income for Q3 2024 was US$ 236.9 million, compared to a US$ 28.0 million loss in Q3 2023. The company's cash position reached US$ 457.9 million with a net debt of US$ 224.7 million.
Production highlights include increases in silver (2.5M Oz), zinc (96% YoY), lead (206% YoY), and gold (7% YoY), while copper decreased by 9% YoY. The company completed the sale of Chaupiloma Royalty Company to Franco-Nevada for US$ 210 million and received a credit rating upgrade from Moody's to B1 with positive outlook.
MUFG Bank has launched MUFG CashFolio, a new liquidity trading portal powered by BNY's LiquidityDirect® platform. This all-inclusive investment portal provides institutional clients with enhanced access to money market mutual funds (MMF), which reached $6.51 trillion in assets in July. The platform offers MMF trade execution, settlement, fund research, compliance tools, and ESG Data Analytics capabilities. LiquidityDirect currently supports over $16 trillion in annual transaction flow for more than 7,000 institutional investors. The collaboration aims to provide clients with improved cash management and risk diversification through an integrated platform.
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