Bank of New York Mellon Corporation - BK STOCK NEWS

On June 24, 2021, the Federal Reserve confirmed BNY Mellon's resilience following the 2021 bank stress test, maintaining its Stress Capital Buffer requirement at 2.5%. The company plans to increase its quarterly cash dividend by 10%, from $0.31 to $0.34 per share, starting in Q3 2021, pending board approval. Additionally, BNY Mellon's board approved a stock repurchase up to $6.0 billion over six quarters. This flexibility is aimed at optimizing capital management while adhering to regulatory standards.

BNY Mellon Wealth Management appointed Crystal Thompkins as the new Head of Philanthropic Solutions. With over 20 years of experience, she will drive strategy for philanthropic services which include individual philanthropy and donor-advised funds. Reporting to Ben McGloin, Thompkins has been with BNY Mellon for over 15 years. She previously served as the National Director of Gift Planning Services. BNY Mellon Wealth Management manages $292 billion in client assets and has a long history of providing financial services worldwide.

BNY Mellon has launched cross-currency sweeps, enhancing cash management efficiency for clients. This automated tool allows firms to concentrate cash from multiple currencies into their base currency, reducing exposure to foreign exchange volatility. The sweeps automate time-consuming processes, minimizing internal cash management costs and risks, while providing same-day FX settlement. The initial offering includes USD, GBP, EUR, CAD, and CHF, with plans to expand to AUD and JPY. BNY Mellon aims to meet client demands for sophisticated liquidity solutions, backed by its strong credit rating.

BNY Mellon's Pershing launched its next generation integration portal, NetXServices, on June 9, 2021. This portal enhances accessibility for clients, allowing them to utilize the extensive technology capabilities of the Pershing platform. It supports over 200 third-party provider integrations and offers features like rapid account opening and real-time trading. The company emphasized that demand for integrations has surged three-fold in the past year. With $2 trillion in assets and millions of investor accounts, Pershing aims to provide unparalleled digital solutions for financial firms.

BNY Mellon's Pershing announced its innovative Managed Accounts Central, a multi-custodial managed accounts solution, set to launch in Q4 2021. This platform will enable wealth managers to efficiently oversee advisory businesses across custodians from a single interface. With the managed accounts market projected to reach $11.6 trillion in 2023, this solution aims to streamline operations and enhance advisory services. Over 11,000 advisors currently utilize Pershing's technology, managing $730 billion in assets. The initiative reflects growing demand for fiduciary advice and improved regulatory compliance.

BNY Mellon and Saphyre have partnered to enhance client onboarding through AI technology, aligning with BNY Mellon's OMNISM strategy. This collaboration allows for improved communication and reduced fund launch times, enabling near real-time onboarding and facilitating efficient cross-border trading. BNY Mellon aims to save time for custody clients, significantly speeding up processes that previously took days. As of March 31, 2021, BNY Mellon managed $41.7 trillion in assets under custody and $2.2 trillion in assets under management.

BNY Mellon has announced it will report its financial results for the third quarter of 2021 on October 19, 2021. The results will be posted on their website at approximately 6:30 a.m. ET, followed by a conference call and live audio webcast at 8 a.m. ET. This event may include forward-looking statements and other material information. As of March 31, 2021, BNY Mellon managed $41.7 trillion in assets under custody and $2.2 trillion in assets under management, serving clients across 35 countries.

BNY Mellon has been selected by Invesco Fund Management Limited and Invesco Management S.A. to provide transfer agency services for US$100bn of their ICVC and SICAV fund ranges. This appointment enhances BNY Mellon’s existing custody and fund administration roles for Invesco’s funds domiciled in the UK and Luxembourg. Alan Flanagan, Global Head of Fund Services at BNY Mellon, emphasized the commitment to service excellence and improved investor experience. As of March 31, 2021, BNY Mellon managed $41.7 trillion in assets.

BNY Mellon Wealth Management has appointed Barry Halpin as the new Regional Director in London, effective June 1, 2021. Halpin, who brings over 30 years of experience, will oversee product delivery and regional strategy execution, managing a team of specialists. This appointment comes as BNY Mellon aims to strengthen its presence in Europe, enhancing client service for its growing family office clientele. Halpin's experience includes previous leadership roles within BNY Mellon, emphasizing continuity in leadership.