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 will disclose its third-quarter 2020 financial results on October 16, 2020, around 6:30 a.m. EDT. A conference call and audio webcast, featuring forward-looking statements, will occur at 8 a.m. EDT. Interested parties can join by dialing +1 800-390-5696 (U.S.) or +1 720-452-9082 (International), using passcode: 807070. Replays will be accessible from 2 p.m. EST on October 16 until November 15, 2020. As of June 30, 2020, BNY Mellon managed $2.0 trillion in assets, and its website will host earnings-related materials.
BNY Mellon Wealth Management has appointed Julie Alcala as Senior Wealth Strategist in Chicago. Bringing over 20 years of financial services experience, Julie previously worked at William Blair and Credit Suisse, focusing on high-net-worth clients. She holds both CFP® and CPA designations. Regional President Stacie Kuhlman emphasized Julie's extensive network and market understanding as vital for client relationships. BNY Mellon manages $254 billion in client assets as of June 30, 2020, and offers comprehensive wealth management services.
Volante Technologies Inc. announced a successful capital raise of USD 35M, marking its first outside investment after nearly two decades of organic growth. The financing was led by Wavecrest Growth Partners with participation from BNY Mellon, Citi Ventures, PostePay, and Visa. The funds will help Volante accelerate its global cloud expansion and enter new markets. With over 100 customers, including major corporate banks, Volante aims to further enhance its cloud-based financial services, reflecting a strong demand in the sector.
BNY Mellon Wealth Management has appointed Larry Tekler as Senior Director and Team Leader in Newport Beach, CA. With 30 years of experience in wealth management, Tekler will lead a team focused on providing comprehensive solutions for clients with complex financial needs. His previous roles include managing investments for a family office and serving as Managing Director at Citi Private Bank. BNY Mellon has $254 billion in client assets as of June 30, 2020, and offers a wide range of financial services globally.
BNY Mellon Wealth Management has appointed Barry McKenzie as Market President in Naples, FL. McKenzie will oversee product and service delivery in the region, managing wealth managers and support staff. He brings extensive experience from Northern Trust and Harbour Capital Advisors. As of June 30, 2020, BNY Mellon Wealth Management has $254 billion in client assets. BNY Mellon operates globally with $37.3 trillion in assets under custody and $2.0 trillion in assets under management.
BNY Mellon Wealth Management has appointed Kent Moegerle as Southeast Regional President as of July 20, 2020. He will manage strategy, business development, and marketing across key markets, including Atlanta and Miami. Moegerle previously held roles at BNY Mellon and SunTrust, focusing on revenue growth and strategic initiatives. BNY Mellon oversees $254 billion in client assets, emphasizing financial success through its Active Wealth approach. This appointment aims to enhance the company's position in the competitive wealth management landscape.
BNY Mellon's Pershing has appointed Emily Schlosser as its new Chief Operating Officer, effective July 20, 2020. Joining from Goldman Sachs, she led transformative initiatives in client experience and revenue generation. Previously, as COO at E*TRADE, she oversaw significant revenue growth. CEO Jim Crowley expressed confidence in her leadership to enhance client services and operational functions at Pershing. BNY Mellon oversees $37.3 trillion in assets, emphasizing its strong market position.
The Bank of New York Mellon (NYSE: BK) has announced its Board of Directors approved a quarterly common stock dividend of $0.31 per share, payable on August 7, 2020, to shareholders on record by July 27, 2020. Additionally, dividends for preferred stock include: $1,011.11 for Series A, $1,300.00 for Series C, $962.65 for Series E, $2,312.50 for Series F, and $1,579.72 for Series G, payable on September 21, 2020, to holders recorded by September 5, 2020.
BNY Mellon and Deutsche Bank have launched a new API-enabled foreign-exchange solution aimed at enhancing confirmation times for restricted emerging-market currency trades. The solution, currently operational in Korea with plans for other currencies like the Indonesian Rupiah and Indian Rupee, reduces the pre-trade lifecycle from hours to seconds. This innovation is expected to lessen operational burdens and improve workflow transparency. Both banks emphasize their commitment to providing faster and more efficient services to clients in the evolving FX market.
BNY Mellon announced the retirement of Mitchell Harris, CEO of BNY Mellon Investment Management, effective October 1, 2020. Hanneke Smits has been appointed as his successor, while Catherine Keating will continue as CEO of BNY Mellon Wealth Management. The changes aim to drive performance and innovation in investment strategies amidst evolving market conditions. BNY Mellon has approximately $1.8 trillion in assets under management as of March 31, 2020. Smits' appointment is expected to leverage her experience in enhancing business momentum and client-centric culture.
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