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 has appointed Laide Majiyagbe as the new Head of Financing and Liquidity, taking charge of Securities Finance, Liquidity Services, and Collateral Segregation. With 14 years at Goldman Sachs, including her role as the Global Head of Liquidity Projections, she brings extensive expertise in liquidity and collateral management. Her leadership aims to enhance BNY Mellon's position in securities finance and transform client connections within capital markets. BNY Mellon currently manages $41.7 trillion in assets under custody.
BNY Mellon Wealth Management has appointed Bryce Walker as Senior Client Strategist based in Tampa, Fla.. With a background in asset management at PNC, Walker will focus on the needs of ultra-high-net-worth families, including business owners and executives. Market President Sean Maguire highlights Walker's valuable local relationships as a key asset. BNY Mellon Wealth Management manages $292 billion in client assets and offers comprehensive wealth services.
The Bank of New York Mellon (BK) reported first-quarter 2021 results showing a 5% decrease in total revenue to $3.9 billion and net income of $858 million. Diluted earnings per share fell 8% to $0.97. Key metrics include ROE at 9% and ROTCE at 16%. Fee revenue rose 1% year-over-year, excluding money market fee waivers, while net interest revenue dropped 20%, significantly impacting overall performance. The CET1 ratio stood at 12.6%, supported by share repurchases totaling $699 million. Provisions for credit losses included an 83 million benefit.
The Bank of New York Mellon Corporation (NYSE: BK) announced a quarterly dividend of $0.31 per share on common stock, payable on May 11, 2021, for shareholders of record by April 28, 2021. Additionally, dividends for preferred stocks include $1,011.11 on Series A, $2,250.00 on Series D, $911.68 on Series E, and $925.00 on Series H, payable on June 21, 2021. 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 announced the addition of cleared repo to its LiquidityDirect investment platform, enhancing services for institutional clients. This move follows the platform's growth, which has seen daily volumes in the sponsored cleared repo sector rise from $30 billion in 2017 to above $200 billion recently. The cleared repo option allows clients to invest without full clearing house membership, increasing accessibility. LiquidityDirect has supported nearly $9 trillion in transactions annually as of 2020, positioning it as a leader in short-end investments.
BNY Mellon announced its selection by Charles Schwab Investment Management to provide transfer agency services. This collaboration aims to enhance client service while reducing complexity and costs associated with asset management. BNY Mellon leverages its OMNI platform and industry expertise, delivering streamlined access to investment information. With $38.6 trillion in assets under custody and $2.0 trillion in assets under management, BNY Mellon continues to emphasize operational efficiency for clients. This partnership signifies a pivotal step in BNY Mellon's commitment to improving investor solutions.
BNY Mellon has introduced a solution allowing international investors to use Chinese fixed income assets as collateral on its triparty platform via Hong Kong's Bond Connect. This development addresses the previous lack of mechanisms to collateralize these assets, facilitating access to the $13.9 trillion China Interbank Bond Market. The first successful trade involved collateralizing Chinese government securities. BNY Mellon's move is expected to enhance the global collateral landscape, reflecting the growing importance of the Chinese market in the investment ecosystem.
BNY Mellon will announce its first quarter 2021 financial results on April 16, 2021, with materials available on its website starting at 6:30 a.m. ET. A conference call and audio webcast will follow at 8 a.m. ET, featuring forward-looking statements and material information. Replays will be accessible from 2 p.m. ET on the same day until May 16, 2021. BNY Mellon, a global investments company, manages $41.1 trillion in assets under custody and $2.2 trillion in assets under management.
BNY Mellon Wealth Management has appointed Carolina Montiel as Regional Director and Team Leader in Atlanta, GA. Montiel, who has nearly 30 years of investment experience, will oversee client services and the implementation of tailored wealth management solutions in the region. Carolina, previously a Managing Director at BNY Mellon, has extensive experience with EFG Capital and HSBC. BNY Mellon manages $286 billion in total client assets and is focused on enhancing its Active Wealth management approach to meet client needs.
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