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.
Crux Wealth Advisors (Crux) has officially launched as a hybrid Registered Investment Adviser and full-service wealth management firm, transitioning from Raymond James Financial Services. The firm launched with its first tranche of $1 billion in client assets under management (AUM), with plans for further growth in 2024. Founded by Travis Alexander in 2016, Crux grew from ~$70 million AUM in its first year to over $3 billion while on the RJFS platform.
Key collaborators in this transition include Decerno Advisors as a strategic advisor, Arete Wealth as the accommodating broker/dealer and insurance agency for hybrid advisors, and BNY Pershing providing clearing and custody services. Crux is actively seeking right-fit advisors for expansion and aims to focus on improving client experience and success rather than growth for growth's sake.
Snorkel AI has announced a strategic agreement with BNY Mellon (NYSE: BK) to provide software, expertise, and insights for transforming unstructured data into actionable solutions. This collaboration aims to accelerate BNY Mellon's AI initiatives, focusing on efficiency, productivity, and client insights. Snorkel AI's approach moves away from manual data curation to a more programmatic method, making AI model creation more affordable, scalable, and secure.
Sarthak Pattanaik, Head of AI Hub at BNY Mellon, emphasized the importance of tech innovation in their strategic focus. The partnership with Snorkel AI is expected to leverage unstructured data expertise to deliver innovative, safe, and resilient solutions for clients and the market. Snorkel AI's CEO, Alex Ratner, highlighted that their technology has been adopted by the majority of the largest US banks, simplifying tasks like data curation, tagging, and labeling.
Snorkel AI has announced a strategic agreement with BNY Mellon (NYSE: BK) to provide software, expertise, and insights for transforming unstructured data into actionable solutions for clients. This collaboration aims to accelerate BNY's AI initiatives, focusing on enhancing efficiency, productivity, and insights. Snorkel AI's approach moves away from manual data curation to a more programmatic method, making AI model creation more affordable, scalable, and secure.
Sarthak Pattanaik, Head of AI Hub at BNY, emphasized the importance of tech innovation in serving clients better and improving company operations. Alex Ratner, CEO of Snorkel AI, highlighted that their platform has been adopted by most major US banks due to its ability to simplify data preparation tasks for AI-ready data.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) has announced a distribution of $0.0300 per share of common stock, payable on September 3, 2024 to shareholders of record as of August 19, 2024. The ex-dividend date is also August 19, 2024. This distribution matches the previous one announced in July.
The Fund aims to make regular monthly distributions at a stable rate based on projected performance. BNY Mellon Investment Adviser, Inc., part of BNY Investments, manages the Fund. BNY Investments is a major asset manager with $2.0 trillion in assets under management as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration as of the same date.
Buenaventura (NYSE: BVN) reported strong financial results for Q2 2024 and H1 2024. Key highlights include:
- Q2 2024 EBITDA from direct operations: $106.9 million (vs $22.1 million in Q2 2023)
- H1 2024 EBITDA from direct operations: $201.3 million (vs $68.7 million in H1 2023)
- Q2 2024 net income: $74.4 million (vs $5.4 million loss in Q2 2023)
- H1 2024 net income: $141.4 million (vs $67.5 million in H1 2023)
- Cash position: $171.5 million as of June 30, 2024
- Net debt: $520.5 million with a leverage ratio of 1.40x
Production increases were seen in silver, zinc, and lead, while copper and gold decreased. El Brocal's processing plant resumed operations after a 16-day suspension.
BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund, Inc. (NYSE: DCF) has declared a monthly distribution of $0.035 per share of common stock, payable on September 3, 2024. The ex-dividend date is August 8, 2024. This matches the previous distribution declared in June.
The Fund aims to pay most of its net income to shareholders through monthly dividends, though this policy may change. BNY Mellon Investment Adviser, Inc., part of BNY Investments, manages the Fund. BNY Investments is a major asset manager with $2.0 trillion in assets under management as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.
BNY Mellon High Yield Strategies Fund (NYSE: DHF) has declared a monthly cash dividend of $0.0175 per share from net investment income. The dividend is payable on August 21, 2024, to shareholders of record as of August 7, 2024. This matches the previous dividend declared in June. BNY Mellon Investment Adviser, Inc., the fund's investment adviser, is part of BNY Investments, which manages $2.0 trillion in assets as of June 30, 2024. BNY, the parent company, has $49.5 trillion in assets under custody and/or administration.
Buenaventura (NYSE: BVN) has released its Q2 2024 production and sales volume results. Key highlights include:
- Gold production: 33,819 oz from direct operations, 35,247 oz including associated companies
- Silver production: 4,017,977 oz from direct operations, 3,911,774 oz including associated companies
- Lead production: 4,383 metric tons
- Zinc production: 6,352 metric tons
- Copper production: 10,123 metric tons
The company is on track to meet its 2024 guidance for most metals. Notably, Yumpag mine contributed significantly to silver production with 2,461,616 oz in Q2. El Brocal remains the primary copper producer for Buenaventura.
Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly traded precious and base metals company, announced its Second Quarter 2024 earnings conference call scheduled for July 26, 2024, at 11:00 AM Eastern Time. The event will feature CEO Leandro García Raggio and senior management. The second quarter results will be released on July 25, 2024, after market close.
The call can be accessed via a toll-free number in the US (+1 844 481 2914) or internationally (+1 412 317 0697). Participants can also use the provided link to receive an automatic call. A live webcast will be available, and a replay will be accessible for seven days post-conference.
Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde. For more information, visit their website or contact Daniel Dominguez (CFO) or Gabriel Salas (Head of Investor Relations) in Lima, or Barbara Cano at InspIR Group in New York.
Arete Wealth, an independent broker-dealer and registered investment advisory firm managing over $6B in assets, has announced an expansion of its clearing and custodial services through long-term agreements with BNY Pershing. This partnership will provide Arete Wealth's advisors access to BNY Pershing X's Wove wealth management platform, which integrates tools like Wove Investor, Wove Data, and Wove Advisory's Portfolio Solutions to unify an investor's financial picture. This collaboration, hailed by both firms' executives, aims to support Arete's growth in traditional and alternative investments, including hedge funds, private equity, and real estate.
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