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 Mellon Investment Management has realigned its investment firms to improve specialist capabilities. Effective September 1, 2021, Insight North America LLC replaces Mellon Investments Corporation as the sub-adviser for the BNY Mellon Municipal Bond Infrastructure Fund. This change does not affect the Fund's investment objectives, strategies, or fees. BNYM Investment Adviser continues to oversee the Fund, paying INA the same advisory fee as previously paid to Mellon. As of December 31, 2020, BNY Mellon managed $2.2 trillion in assets, with $47.8 billion under INA's management.
On August 25, 2021, the Board of Trustees of BNY Mellon High Yield Strategies Fund (NYSE: DHF) declared a monthly cash dividend of
BNY Mellon Wealth Management appointed Gary Lutz as the new Regional Director for West Region Private Banking on August 25, 2021. Based in Denver, he will oversee banking and lending services for clients including individuals and foundations. Lutz brings over three decades of experience in wealth management and commercial banking, previously holding senior positions at Century Bank and Wells Fargo. BNY Mellon Wealth Management manages $305 billion in client assets as of June 30, 2021, and aims to enhance its banking growth in the West Region.
BNY Mellon will be represented by CEO Todd Gibbons and CFO Emily Portney at the Barclays Global Financial Services Conference on September 14, 2021, at 4:15 p.m. ET. The discussion will likely cover forward-looking statements and other significant insights.
A live audio webcast will be available on the BNY Mellon website, with an archived version accessible approximately 24 hours later. As of June 30, 2021, BNY Mellon managed $45.0 trillion in assets under custody and $2.3 trillion in assets under management.
BNY Mellon Investment Management announced the launch of the BNY Mellon Ultra Short Income ETF, set to start trading on the NYSE on August 11, 2021. With $2.3 trillion in assets under management, the ETF aims to provide higher yields with lower volatility compared to short-term bond funds and money market funds. This initiative marks a significant expansion in BNY Mellon’s ETF offerings, following the success of its initial suite, which amassed $845M in assets as of June 30, 2021. The firm plans to introduce additional active ETFs in the coming months.
BNY Mellon Wealth Management has appointed Daniel Gebhart as Regional Director and Head of Portfolio Management in New England. He will oversee investment management and wealth planning services while leading the wealth managers in the region. Gebhart has been with BNY Mellon since 2000 and previously held senior positions in Boston. This strategic appointment aims to enhance BNY Mellon's client services. As of June 30, 2021, the firm managed $305 billion in client assets and had $31.6 billion in AUM/AUA, indicating substantial market presence.
BNY Mellon Wealth Management has appointed Jeremy Gonsalves as the new National Director of Portfolio Management. With over 25 years of experience, Gonsalves has previously held various roles, including Managing Director for Portfolio Management in New England. He will oversee the firm's asset allocation and investment strategy, reporting to Leo Grohowski, the Chief Investment Officer. BNY Mellon Wealth Management manages $305 billion in total client assets as of June 30, 2021, and provides extensive financial services across investments and wealth planning.
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