Welcome to our dedicated page for Bank New York Mellon news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank New York Mellon 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 launched a pioneering real-time electronic bill (e-bill) and payment solution, transforming how businesses handle billing and payments in the U.S. This innovative service allows businesses to present digital bills instantly and receive payments through online and mobile banking channels. Key benefits include improved processing efficiency, faster collections, and reduced costs. This solution is particularly advantageous for high-bill-volume sectors like utilities and credit card companies. BNY Mellon aims to drive widespread adoption and enhance client experiences in the digital billing landscape.
BNY Mellon Wealth Management has expanded its Denver office by adding three new hires: Marie Dawson as senior fiduciary specialist, Steve Starzec as client strategist, and Matt McConaty as associate client strategist. This growth is part of a strategy to enhance services in the Rocky Mountain region, which is attracting wealthy families post-pandemic. The new team members bring extensive experience in wealth planning and investment, aiming to strengthen client relationships and support the firm's Active Wealth framework.
BNY Mellon will be represented by CEO Roman Regelman at the Deutsche Bank Global Financial Services Conference on June 1, 2021, at 2:10 p.m. ET. The session may include forward-looking statements and important financial insights. A live audio webcast will be available on the BNY Mellon website, with an archive accessible within 24 hours and remaining up until July 1, 2021. As of March 31, 2021, BNY Mellon manages $41.7 trillion in assets under custody and $2.2 trillion in assets under management.
BNY Mellon Wealth Management has appointed Chad Van Den Top as Senior Client Strategist in Boston. He brings nearly a decade of experience in wealth structuring, estate planning, and client advisory services, having previously worked with Silicon Valley's ultra-high-net-worth individuals at Northern Trust. Chad will focus on providing comprehensive wealth management services to families and foundations in New England, thereby enhancing BNY Mellon's Active Wealth program. The firm manages $292 billion in client assets as of March 31, 2021.
BNY Mellon executives Hanneke Smits and Scott Freidenrich are scheduled to speak at the Barclays Americas Select Franchise Conference on May 18, 2021, at 12:00 p.m. ET. They will likely discuss forward-looking statements and important information.
A live audio webcast will be accessible on the BNY Mellon website, with an archived version available after 24 hours until June 18, 2021. As of March 31, 2021, BNY Mellon managed assets worth $41.7 trillion in custody and $2.2 trillion in management.
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.
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