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 Robin Vince as the new Vice Chair and CEO of Global Market Infrastructure, effective October 1, 2020. Vince will oversee Clearance and Collateral Management, Treasury Services, Markets, and Pershing businesses, reporting to Todd Gibbons, CEO of BNY Mellon. This leadership change is aimed at enhancing profitability and client service by leveraging synergies between the businesses. Vince brings extensive experience from his previous role as Chief Risk Officer at Goldman Sachs and is expected to drive growth and innovation at BNY Mellon.
BNY Mellon has launched its Automated Medical and Dental Payments Solution to transition claims payments from checks to electronic methods, enhancing processing efficiency. This solution, already utilized by NJM Insurance Group, offers features like EOB statement delivery and 1099 management, supporting BNY Mellon's goal of modernizing payment systems. With over one million providers accepting ACH or Virtual Card payments, this automated solution aims to streamline operations and improve the provider experience, ultimately leading to cost savings and better service delivery.
BNY Mellon Wealth Management has appointed Christine Calderon as a Client Strategist in Chicago, reporting to Regional President Stacie Kuhlman. With over 20 years of experience, she will focus on wealth management for high-net-worth clients. Previously an Executive Director at J.P. Morgan, Christine is well-versed in wealth preservation and growth strategies. BNY Mellon manages $254 billion in client assets as of June 30, 2020, and aims to deliver comprehensive wealth advice.
Alcentra has appointed Jonathan DeSimone as its new CEO, subject to FCA approval, following David Forbes-Nixon's decision to step down. DeSimone brings extensive experience from Bain Capital Credit, where he was a portfolio manager. He will work closely with Forbes-Nixon during the transition. Alcentra, a leader in private debt management with over US$40 billion in assets under management, aims to leverage DeSimone's expertise to enhance its investment strategies in a challenging economic environment.
BNY Mellon Wealth Management has appointed Jennifer Barnaby as a Senior Client Strategist based in Atlanta. With nearly 20 years of experience, she will focus on wealth strategy for high-net-worth clients, including family offices and executives. Barnaby previously held multiple roles in wealth management at Truist. She is licensed in FINRA Series 7 and 66 and is pursuing CFP certification. BNY Mellon Wealth Management manages $254 billion in client assets as of June 30, 2020, delivering a range of investment and planning services.
BNY Mellon's Pershing announced integrations with CAIS and iCapital Network, enhancing alternative investment accessibility through its API Store. This initiative aims to streamline document workflows, doubling registered investment advisor (RIA) balances in the last three years. Advisors will benefit from automated processes and e-signatures, enhancing efficiency. Both platforms offer access to alternative investments with minimums starting at $25,000. The integrations are part of Pershing's strategy to deepen capabilities in alternative investments and support advisors in meeting high-net-worth clients' needs.
BNY Mellon Wealth Management has appointed Nakia Maddox-Eubanks as a Senior Wealth Manager in Boston. With over 20 years of experience in private wealth management, Nakia previously worked as a Portfolio Strategist at Bainco Investors and held senior roles with CIBC Private Wealth Management and Loring, Wolcott & Coolidge. She specializes in customized wealth management strategies and sustainable investing. BNY Mellon Wealth Management manages $254 billion in client assets as of June 30, 2020.
BNY Mellon Wealth Management has appointed Lynne Sawyer as Senior Group Manager of Deposit Product Management to drive deposit growth and enhance deposit products. Reporting to Rick Calero, this role focuses on leveraging Lynne’s extensive experience in financial services, including her previous leadership at Morgan Stanley and Citi. BNY Mellon Wealth Management manages $254 billion in client assets as of June 30, 2020, providing a wide range of wealth services.
BNY Mellon announces that Todd Gibbons, CEO, and Emily Portney, CFO, will present at the Barclays Global Financial Services Conference on September 15, 2020, at 7:30 a.m. ET. The event will be held virtually and may include forward-looking statements.
A live audio webcast will be available on BNY Mellon's website. An archived version will be accessible after 5 p.m. ET on September 15 until October 15, 2020. BNY Mellon manages $37.3 trillion in assets under custody and $2.0 trillion in assets under management as of June 30, 2020.
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