The bank of new york mellon -
The Bank of New York Mellon Corporation Company Profile, Marketing Contacts, Media Spend, Brands
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The Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company. The Company’s two principal banks are The Bank of New York Mellon, which houses its institutional businesses, including Asset Servicing, Issuer Services, Treasury Services, Broker-Dealer and Advisor Services and the bank-advised business of Asset Management, and BNY Mellon, National Association (BNY Mellon, N.A.), a nationally chartered bank, which houses its Wealth Management business.
- Main Telephone
- (212) 495-1784
225 Liberty Street
New York, NY10286
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Digital Opps: BNY Mellon moves digital media to new agency
Subject: Digital Company: BNY Mellon, one of the world's largest investment management organizations. Opportunity: In case you missed the Winmo Talk head start, we've finally received c...
Oldest US bank BNY Mellon to hold Bitcoin for clients
The oldest bank in America, Bank of New York Mellon (BNY Mellon), said Thursday that it will now be accepting, holding and issuing bitcoin for its clients.
The Wall Street Journal reports that BNY Mellon will eventually let digital assets to be moved through the same system that managers use for more traditional holdings through a new platform that is currently in prototype.
“Digital assets are becoming part of the mainstream,” Roman Regelman, chief executive of BNY Mellon’s asset-servicing, told the Journal.
BNY Mellon will reportedly begin offering this new service later this year.
The Journal notes that this is a significant move for a Wall Street bank, with many other institutions skeptical of accepting digital currencies due to concerns over the regulatory risks involved. However, bitcoin’s rising value has caused many to start accepting the relatively new cryptocurrency.
Regelman noted to the Journal that before this development, banks had used separate custodians for cryptocurrency holdings.
BNY Mellon is not the first major financial institution to allow bitcoin to be used, the Journal notes. Fidelity Investments in 2018 announced that it would be storing and trading digital currencies such as bitcoin and ether.
Mastercard also announced on Wednesday that it will start supporting cryptocurrencies. The company said the move was not meant to encourage others to start using digital currencies but to enable customers to transfer all digital value “however they want.”
“This change may open merchants up to new customers who are already flocking to digital assets, and help sellers build loyalty with existing customers who want this additional option,” Mastercard said in a post explaining its decision.
It was reported on Monday that Tesla CEO Elon MuskElon Reeve MuskUS-China space cooperation is up in the air more than everJoe Biden's Big Labor push not winning votersElon Musk warns SpaceX employees of bankruptcy risk if Starship engine production doesn't increase: reportMORE had invested $1.5 billion into bitcoin. After the news of Tesla’s investment broke, bitcoin’s value rose to an all-time high of $43,863.
Bank of New York Mellon Corp
About Bank of New York Mellon Corp
The Bank of New York Mellon Corporation is a global investments company, which is focused on helping its clients manage and service their financial assets throughout the investment lifecycle. It provides financial services for institutions, corporations or individual investors. It allows clients to create, trade, hold, manage, service, distribute or restructure investments. The Company's business is divided into two business segments: Investment Services, and Investment and Wealth Management. It also has an Other segment, which includes the leasing portfolio, corporate treasury activities, derivatives and other trading, corporate and bank-owned life insurance, renewable energy investments and business exits. The Company has approximately $41.1 trillion in assets under custody and/or administration and $2.2 trillion in assets under management. It offers asset servicing, issuer services, treasury services, clearance and collateral management services to its clients.
Joseph J. Echevarria
Independent Non-Executive Chairman of the Board
Thomas P. Gibbons
Chief Executive Officer, Director
Robin A. Vince
Vice Chairman of the Board, Chief Executive Officer Market Infrastructure
Senior Executive Vice President and Chief Financial Officer
Chief Executive Officer, Treasury Services
2.12 mean rating - 17 analysts
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How Bank of New York Mellon Makes Money
Founded in 2007, Bank of New York Mellon (BK) is the culmination of a merger of two of America’s most venerable banks. The Bank of New York was founded in 1784, Mellon Financial in 1869. The former was primarily a short-term business lender, the latter a wealth management firm. The resultant firm services more assets than any company on Earth, a total of $41.1 trillion under custody as of Dec. 31, 2020.
With $2.2 trillion of assets under management, Bank of New York Mellon is one of the largest asset managers in the world. The company primarily generates revenue through investment services, including asset and issuer servicing, treasury services, clearance and collateral management, and asset and wealth management.
- Bank of New York Mellon generates revenue through investment services, as well as wealth and asset management.
- The bank had $41.1 trillion in assets under custody as of the end of 2020.
- BNY Mellon operates in 35 countries around the world.
Bank of New York Mellon's Earnings
Throughout Bank of New York Mellon’s brief existence in its current form, earnings have been uncommonly consistent. While reported revenue of $15.8 billion was down 4% in 2020 compared to 2019, management explained this was the result of the sale of an equity investment in 2019 and the impact of lower interest rates.
Over the previous five years, in reverse chronological order, the firm earned revenue of $16.5 billion (2019), $16.4 billion (2018), $15.5 billion, $15.2 billion, and $15.2 billion. According to the bank's most recent annual report, net income for 2020 was approximately $3.6 billion. As of Dec. 31, 2020, the pre-tax operating margin was 30%.
BNY Mellon was established (as Bank of New York) in 1784 by Alexander Hamilton and later became the first company to be listed on the New York Stock Exchange.
Bank of New York Mellon Business Model
True to the history of its predecessors, Bank of New York Mellon has two distinct business reporting segments: investment management and investment services. This can be confusing; the former falls under one subsidiary, named The Bank of New York Mellon. Meanwhile, the company’s wealth management business falls under a subsidiary named BNY Mellon.
Smaller subsidiaries, most of them concentrating on trusts, include BNY Mellon Investment Servicing Trust Company, BNY Mellon Trust Company of Illinois, BNY Mellon Trust of Delaware, and The Bank of New York Mellon Trust Company.
Bank of New York Mellon's subsidiaries include the firm’s main European operation, The Bank of New York Mellon SA/NV. The company has dozens of subsidiaries in total, with the largest majority of them incorporated either in the United States or the British Isles. (The outliers are based in Belgium and Luxembourg.) All told, Bank of New York Mellon operates in roughly three dozen countries.
Bank of New York Mellon's Investment Services Business
Of Bank of New York Mellon’s two major businesses, Investment Services is the biggest, accounting for about 71.9% of the company’s noninterest expense. This division provides a variety of business and technology services to financial institutions, corporations, endowments, and public agencies. Within the Investment Services division, Bank of New York Mellon has a variety of lines of business, including Asset Servicing, Pershing (providing clearing, custody, and other business services), Issuer Services, Treasury Services, and Clearance and Collateral Management.
If you happen to be the executive tasked with figuring out what to do with your large company’s cash pile, chances are good that you’re going to contact Bank of New York Mellon at some point. The firm does business with approximately 400 of its counterparts on the Fortune 500 list, along with three-quarters of America’s 100 largest foundations and two-thirds of its 1,000 largest pension funds. Hence, the enormous amount of money under the Bank of New York Mellon’s administration.
The Bank of New York and Mellon Financial Corporation merged in July of 2007, resulting in the bank's current form and name.
Bank of New York Mellon's Investment Management Business
While Bank of New York Mellon indeed deals in the exclusive province of wealth beyond most people’s comprehension, that’s not the firm’s specialty. Rather, hundreds of thousands of middle-class people rely on Bank of New York Mellon’s investment services expertise to keep their retirement plans solvent and their stock investments promising.
The investment management segment includes estate planning and private banking for extremely rich people. This, again, is small compared to the investment services Bank of New York Mellon sells to the managers of large capital reserves. The indirect beneficiaries of those investment services—ordinary employees and retirees—have a far greater impact on Bank of New York Mellon’s fortunes than do the firm’s necessarily fewer wealthy clients.
The remainder of the firm’s investment management operations include global equities, currency management, and fixed income strategies. Bank of New York Mellon’s investment management is conducted through many (relatively) small and independently marketed subsidiaries, such as Alcentra, Siguler Guff, and more, the majority of which were bought by Bank of New York Mellon (or one of its predecessors) rather than being created in-house. The firm’s acquisitiveness hasn’t subsided, either; it continues to buy up smaller "boutique" houses periodically.
As of the end of 2020, the Investment Management division, consisting of both Investment Management and Wealth Management lines of business, held assets under management of $2.2 trillion.
According to its 2020 annual report, the Bank of New York Mellon is focused on worldwide social justice movements given the global impact of the COVID-19 pandemic. The company plans on using its resources and market influence to address environmental, social, and governance (ESG) issues.
In 2020, the company issued three new enterprise ESGs with associated goals and key performance indicators (KPIs). The company has established new programs related to ESG financing, along with helping clients manage ESG risks and opportunities.
Risk is an inherent part of investing and Bank of New York Mellon must adequately manage its own risk factors, as well as those of its clients. Beyond the basic unpredictability of investments, however, there are also other challenges that BNY Mellon faces. These include competition from a small but powerful group of similarly-equipped financial institutions around the world, each of which is competing for the same clients and asset pool.
Given the bank's high volume of daily transactions, it is susceptible to operational risk caused by a breakdown in the system or in information. There are also constant governmental and regulatory challenges to which the company must adapt.
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