The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an investment management and investment services company, headquartered in New York City, USA.
The company is currently the world’s leading asset servicer.
It was formed on July 1, 2007 following the merger of Mellon Financial Corporation and The Bank of New York.
The company is comprised of six main financial services sectors: asset management, asset servicing, advisory services, broker-dealer, issuance services, wealth management, and treasury services.
The Bank of New York Mellon Corporation traces is considered to be the oldest banking corporation in the US, with its history tracing back to 1784, when Alexander Hamilton formed the Bank of New York.
Its two principal banks are:
The Bank of New York Mellon: a New York state chartered bank, where the company operates its Investment Services businesses, including Asset Servicing, Issuer Services, Treasury Services, Broker-Dealer and Advisor Services as well as the bank-advised business of Asset Management.
BNY Mellon, National Association (“BNY Mellon, N.A.”): a nationally-chartered bank, which houses our Wealth Management business.
Overview
- Chairman and CEO: Gerald L. Hassell
- President: Karen B. Peetz
- Industry: Banking/Financial Services
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: BK
- S&P 500 Component
- Founded: 1784
- Revenue: $15.692 billion USD (2014)
- Net income: $2,651 million USD (2014)
- Diluted earnings per share: $2.15 USD (2014)
- Employees: 50,300 (2014)
- Company head office: One Wall Street, New York, NY 10286, USA
- Website: http://www.bnymellon.com/
The Bank of New York Mellon Corporation Financial Results, Years Ended December 31
| Operating data (in $ millions) | 2014 | 2013 |
| Total investment services fees | $6,942 | $6,813 |
| Total fee revenue | $12,558 | $11,715 |
| Net securities gains | $91 | $141 |
| Total fee and other revenue | $12,649 | $11,856 |
| Income from consolidated investment management funds | $163 | $183 |
| Net interest revenue | $2,880 | $3,009 |
| Net interest revenue after provision for credit losses | $2,928 | $3,044 |
| Total revenue | $15,692 | $15,048 |
| Total noninterest expense | $12,177 | $11,306 |
| Income before income taxes | $3,563 | $3,777 |
| Provision for income taxes | $912 | $1,592 |
| Net income | $2,651 | $2,185 |
| Net (income) attributable to noncontrolling interests | $(84) | $(81) |
| Net income applicable to shareholders of The Bank of New York Mellon Corporation | $2,567 | $2,104 |
| Net comprehensive income | $1,825 | $1,855 |
| Common share data (in $) | ||
| Basic earnings (loss) per share | $2,17 | $1.74 |
| Diluted earnings (loss) per share | $2.15 | $1.73 |
| Balance sheet data (in $ millions) | ||
| Total assets | $385,303 | $374,516 |
| Total liabilities | $346,600 | $336,006 |
| Total The Bank of New York Mellon Corporation shareholders’ equity | $37,441 | $37,497 |
| Cash flow data (in $ millions) | ||
| Cash (used in) provided by operating activities | $4,484 | $(642) |
| Cash (used in) investing activities | $(11,675) | $(13,200) |
| Cash provided by financing activities | $7,829 | $15,621 |
| Cash and due from banks at beginning of period | $6,460 | $4,727 |
| Cash and due from banks at end of period | $6,970 | $6,460 |
Source: “The Bank of New York Mellon Corporation Form 10-K 2014”