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The Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company that provides a range of services across three principal business segments: Securities Services, Market and Wealth Services, and Investment and Wealth Management. BNY Mellon offers custody, fund accounting, administration, clearing, payment, investment strategies, and wealth planning services to its clients . The company is known for its high-margin businesses, particularly within the Market and Wealth Services segment, which includes Treasury Services and Pershing .
- Securities Services - Provides custody, fund accounting, and administration services through Asset Servicing and Issuer Services.
- Market and Wealth Services - Offers clearing, custody, and payment services, including Pershing, Treasury Services, and Clearance and Collateral Management.
- Investment and Wealth Management - Delivers investment strategies and wealth planning services through Investment Management and Wealth Management.
| Revenue by Segment - in Millions of USD | FY 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | FY 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | FY 2015 | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | FY 2016 | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | FY 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Securities Services | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Total Fee and Other Revenue | - | -21 | 30 | 25 | 54 | 3,104 | 3,213 | 738 | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Net Interest Income | - | 166 | 41 | 43 | 45 | 47 | 176 | 41 | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Total Revenue | -44 | -123 | 23 | 0 | 33 | 3,333 | 3,389 | 779 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Market and Wealth Services | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Investment and Wealth Management | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Other | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Net Interest Income (Expense) | - | -102 | -7 | -25 | -21 | -8 | -61 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Fee Revenue | - | - | - | - | - | - | - | 34 | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Investment and Other Revenue | - | - | - | - | - | - | - | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total Revenue | 4,311 | 17,502 | 4,527 | 4,595 | 4,648 | 4,836 | 18,606 | 4,792 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue by Geography - in Millions of USD | FY 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | FY 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | FY 2015 | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | FY 2016 | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | FY 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Domestic | - | 11,216 | - | - | - | - | 12,069 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| International | - | 6,286 | - | - | - | - | 6,550 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - EMEA | - | 4,112 | - | - | - | - | 4,272 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - APAC | - | 1,281 | - | - | - | - | 1,272 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - Other International | - | 893 | - | - | - | - | 1,006 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| - UK | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total Revenue | - | 17,502 | - | - | - | - | 18,619 | 4,792 | |||||||||||||||||||||||||||||||||||||||||||||||||
| KPIs - Metric (Unit, Scale) | FY 2013 | Q1 2014 | Q2 2014 | Q3 2014 | Q4 2014 | FY 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | FY 2015 | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | FY 2016 | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | FY 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | FY 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | FY 2019 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | FY 2020 | Q1 2021 | Q2 2021 | Q3 2021 | Q4 2021 | FY 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | FY 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | FY 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | FY 2024 | Q1 2025 |
| Assets under custody and/or administration at period end (trillions) | - | 34.2 | 48.8 | 49.5 | 52.1 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Assets under management at period end (billions) | - | 1,974 | 2,015 | 2,045 | 2,144 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Market value of securities on loan at period end (billions) | - | 450 | 486 | 481 | 484 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of sponsored Depositary Receipts programs at period end (count) | - | 543 | 527 | 516 | 507 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Average daily U.S. dollar payment volumes (count) | - | 236,696 | 237,124 | 241,253 | 242,243 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Daily average revenue trades (DARTs) on U.S. platform (thousands) | - | - | 290 | 280 | 251 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Average tri-party collateral management balances (billions) | - | 5,658 | 5,157 | 5,298 | 5,511 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days with trading revenue less than $(2.5) (count of days) | - | 2 | 0 | 0 | 0 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days with trading revenue between $(2.5) and $0 (count of days) | - | - | 1 | 2 | 2 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days with trading revenue between $0 and $2.5 (count of days) | - | - | 19 | 8 | 18 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days with trading revenue between $2.5 and $5.0 (count of days) | - | - | 30 | 34 | 27 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Number of trading days with trading revenue more than $5.0 (count of days) | - | - | 12 | 19 | 17 | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of interest rate risk contribution to average gross VaR (percentage) | - | - | 41% | 40% | 45% | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of foreign exchange risk contribution to average gross VaR (percentage) | - | 37% | 36% | 35% | 35% | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of credit risk contribution to average gross VaR (percentage) | - | 19% | 21% | 23% | 18% | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of equity risk contribution to average gross VaR (percentage) | - | 3% | 2% | 2% | 2% | - | - | - |
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Adam Vos Executive | Global Head of Markets | N/A | Adam Vos is the Global Head of Markets at BNY Mellon. | |
Akash Shah Executive | Senior Executive Vice President and Chief Growth Officer | N/A | Akash Shah joined BNY Mellon in July 2018 and has been instrumental in driving growth initiatives. | |
Alejandro Perez Executive | Chief Administrative Officer and Interim Chief People Officer | N/A | Alejandro Perez is currently serving in dual roles at BNY Mellon. | |
Bridget E. Engle Executive | Senior Executive Vice President, Chief Information Officer, and Global Head of Engineering | N/A | Bridget E. Engle joined BNY Mellon in 2017 and has led significant technology and operational strategies. | |
Catherine M. Keating Executive | Senior Executive Vice President and Global Head of Wealth Management | N/A | Catherine Keating is set to retire on April 30, 2025, and has led Wealth Management at BNY Mellon. | |
Cathinka Wahlstrom Executive | Chief Commercial Officer | N/A | Cathinka Wahlstrom joined BNY Mellon in May 2023 as the first Chief Commercial Officer, focusing on client management and sales. | |
Dermot McDonogh Executive | Chief Financial Officer | N/A | Dermot McDonogh has been CFO since February 2023, with a background at Goldman Sachs. | |
Emily Portney Executive | Global Head of Asset Servicing | N/A | Emily Portney joined BNY Mellon in October 2018 and has led the Asset Servicing business. | |
Hani A. Kablawi Executive | Senior Executive Vice President and Chairman of International | N/A | Hani A. Kablawi oversees BNY Mellon's international operations, focusing on global expansion. | |
J. Kevin McCarthy Executive | Senior Executive Vice President and General Counsel | N/A | J. Kevin McCarthy has been with BNY Mellon since April 2014, overseeing the company's legal affairs. | |
James (Jim) T. Crowley Executive | Global Head of Pershing | N/A | Jim Crowley leads Pershing, a key business unit within BNY Mellon, contributing significantly to the company's revenues. | |
Jayee Koffey Executive | Senior Executive Vice President, Global Head of Enterprise Execution, and Chief Corporate Affairs Officer | N/A | Jayee Koffey joined BNY Mellon in August 2022 and oversees enterprise execution and corporate affairs. | |
Jennifer Barker Executive | Global Head of Treasury Services | N/A | Jennifer Barker leads the Treasury Services division, focusing on innovation in real-time payment services. | |
Joseph Pizzuto Executive | Chief Auditor | N/A | Joseph Pizzuto is the Chief Auditor at BNY Mellon. | |
Kurtis R. Kurimsky Executive | Corporate Controller and Principal Accounting Officer | N/A | Kurtis R. Kurimsky has been with BNY Mellon since July 2015 as Corporate Controller. | |
Leigh-Ann Russell Executive | Chief Information Officer and Global Head of Engineering | Fellow of the Royal Academy of Engineering | Leigh-Ann Russell joined BNY Mellon on September 15, 2024, bringing a strong engineering mindset to the organization. | |
Rajashree Datta Executive | Deputy Chief Risk Officer | N/A | Rajash | |
Robin Vince Executive | President and CEO | National Geographic Society’s Hubbard Council, Board of Trustees of The Hospital for Special Surgery, Board of the Perelman Performing Arts Center (PAC NYC) | Robin Vince joined BNY Mellon in October 2020 and became CEO in September 2022. He previously held leadership roles at Goldman Sachs. | View Report → |
Senthil Kumar Executive | Senior Executive Vice President and Chief Risk Officer | N/A | Senthil Kumar is the Chief Risk Officer, with a focus on risk frameworks and regulatory enhancements. | |
Alfred W. Zollar Board | Independent Director | Executive Advisor at Siris Capital Group, Board Member of IBM and Nasdaq, Inc. | Alfred W. Zollar has been an Independent Director since 2019 and has a background in technology and private equity. | |
Elizabeth E. Robinson Board | Independent Director | Independent Director at The Travelers Companies, Inc., Non-Executive Chair of BNY Mellon Government Securities Services Corp | Elizabeth E. Robinson has been an Independent Director since 2016 and has experience in finance and risk management. | |
Jeffrey A. Goldstein Board | Independent Director | Senior Advisor and Member of the Investment Committee at Canapi Ventures, Advisor Emeritus at Hellman & Friedman LLC, Board Member at FIS and Capitolis, Inc. | Jeffrey A. Goldstein has been an Independent Director since 2014 and has extensive experience in finance and risk management. | |
Joseph J. Echevarria Board | Independent Chair of the Board | Board Member of Pfizer Inc. and Unum Group, Trustee and CEO of the University of Miami, CEO of the University of Miami Health System | Joseph J. Echevarria has been an independent director since 2015 and Chair since September 2019. He is a retired CEO of Deloitte LLP. | |
K. Guru Gowrappan Board | Independent Director | Board Member of Biliti Electric Inc. and water.org | K. Guru Gowrappan joined BK in 2021 and has a background in media and technology leadership. | |
Linda Z. Cook Board | Independent Director | CEO and Board Member of Harbour Energy plc, Senior Advisor to EIG Global Energy Partners, Chair of Maverick Natural Resources LLC | Linda Z. Cook has been an Independent Director since 2016 and is involved in international business operations and energy sectors. | |
M. Amy Gilliland Board | Independent Director | President of General Dynamics Information Technology, Board Member of Northern Virginia Technology Council and Economic Club of Washington | M. Amy Gilliland joined BK in 2021 and has expertise in IT and cybersecurity. | |
Ralph Izzo Board | Independent Director | Board Member of CMS Energy Corporation and Ovintiv Inc., Member of various advisory boards and councils | Ralph Izzo has been an Independent Director since 2020 and contributes expertise in strategic planning and public policy. | |
Sandra E. O’Connor Board | Independent Director | Board Member of Terex Corporation and Ripple, Chair of the Board of YMCA of Greater NY and BNY Mellon Government Securities Services Corp | Sandra E. O’Connor joined BK in 2021 and has a background in regulatory affairs and treasury services. | |
Rakefet Russak-Aminoach | Director Nominee | Managing Partner at Team8, Chair of Hailo Technologies, Board Member of several companies | Rakefet Russak-Aminoach is a director nominee with a background in banking and venture capital. |
- Can you provide specific metrics on how your increased investment in AI has translated into tangible improvements in efficiency or revenue growth, and how do you measure the return on this investment within your platform strategy?
- Given the decline in the number of sponsored depository receipt programs, what is your strategy to address this trend, and how do you plan to mitigate its potential impact on your revenues from this business segment?
- With the acquisition of Archer to enhance your managed account solutions, how will you ensure that the integration positively impacts multiple lines of business as expected, and what challenges do you foresee in achieving the anticipated synergies?
- Considering your commitment to return 100% plus of net earnings to shareholders through buybacks and dividends, how do you balance this capital return with the need to invest in growth initiatives, especially in an unfavorable market backdrop that could affect ROE resiliency?
- Your strong EPS growth has been partly attributed to favorable market conditions; can you provide more transparency on underlying client growth metrics such as new client acquisitions, revenue per client, or cross-selling success to demonstrate the sustainability of your performance?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Archer Holdco, LLC | 2024 | Acquired by BNY Mellon; the definitive agreement was announced on September 5, 2024, and the deal closed on November 1, 2024. Although the financial terms were not disclosed, the acquisition brings a fully integrated, cloud-based platform and comprehensive middle- and back-office solutions to enhance BNY's managed account ecosystem, expanding distribution and streamlining operations. |
Milestone Group Pty Ltd. | 2021 | Completed on October 1, 2021, this acquisition integrated a business solutions provider for the funds industry into BNY Mellon's Securities Services segment. It was strategically aimed at enhancing the Asset Servicing space with NAV contingency solutions. |
Optimal Asset Management | 2021 | Completed on December 23, 2021, this acquisition brought patented software for direct indexing into BNY Mellon's Pershing X initiative. The move strategically enhanced the firm's wealth advisory and Investment Management offerings by integrating advanced technology and additional engineering resources to support customized investment solutions. |
Recent press releases and 8-K filings for BK.
- Pershing serves 1,300 intermediaries with 8 million client accounts and $2.7 trillion of assets on its platform, driving its focus on growth and positive operating margin.
- The WOVE advisor platform, launched in 2023, delivered $30 million of incremental revenue in 2024 and targets $60–70 million in 2025, leveraging a modular, multi-custodial ecosystem.
- BNY has embedded AI via its Eliza platform and partnerships (e.g., Conquest Planning) to automate RFP responses and reduce advisor planning time from hours to minutes.
- A new platform operating model, implemented in March 2025, realigned ~4,000 employees into 15 groups to enhance efficiency, client service, and positive operating leverage.
- Pershing is targeting consolidation in the RIA space, serving 600 of 1,200 U.S. firms over $1 billion, and is expanding support for alternatives and tokenized assets infrastructure.
- Issued senior medium-term notes on June 10, 2025: $750M of 4.441% Fixed/Floating Rate Notes due 2028, $500M of Floating Rate Notes due 2028, and $750M of 5.316% Fixed/Floating Rate Notes due 2036, registered under Form S-3.
- Sullivan & Cromwell LLP provided an opinion confirming the validity and legal binding nature of the securities, as evidenced by the attached Exhibit 5.1.
- BNY Mellon is desiloing its operations to integrate its various business platforms—clearing, custody, and trading—to enhance cross-selling and market resilience.
- The company detailed a decadal roadmap initiated in 2022, with replatforming efforts expected to fully materialize by 2027-2028, aiming for improved margins and cost efficiency.
- Emphasis was placed on innovation, including new product launches like Wove and several micro innovations designed to drive organic growth and margin improvement.
- Strong Q1 2025 performance: Reported EPS of $1.58 (26% growth) and Revenue of $4.8B with a 6% YoY increase .
- Operating excellence: Achieved a pre-tax operating margin of 32% with expenses rising only 2% YoY, supported by positive operating leverage .
- Dividend announcements: Declared a common dividend of $0.47 per share (payable May 2, 2025, record date: April 21, 2025) and preferred stock dividends of $1,311.33, $925.00, $937.50, and $1,640.00 (payable June 20, 2025, record date: June 5, 2025) .
- Shareholder returns: Returned $1.1 billion to shareholders through dividends and share repurchases .
- Strategic transformation: Over half of employees transitioned to a new platform-oriented model, spurring a 40% increase in clients using multiple lines of business over two years .
- Full-year guidance: Outlook includes mid-single-digit NII growth, 1%-2% expense growth (excluding notable items), and an effective tax rate in the 22%-23% range, emphasizing balance sheet strength amidst macro uncertainties .
- Global footprint: Managed $53.1 trillion in assets under custody/administration and $2.0 trillion in assets under management as of March 31, 2025 .
- Series K Noncumulative Perpetual Preferred Stock issuance announced with a liquidation preference of $100,000 per share and specific dividend restrictions as detailed in the Certificate of Designations .
- A public offering of 20,000,000 depositary shares, each representing a 1/4,000th interest in a share of the Series K Preferred Stock, is being executed through a Deposit Agreement with Computershare and underwritten by top financial institutions including Morgan Stanley and UBS .
- Key exhibits filed include the Underwriting Agreement, Certificate of Designations, and Deposit Agreement, which outline the terms and conditions of the preferred stock issuance .
- Issuance Overview: BNY Mellon has initiated the issuance of Series J Noncumulative Perpetual Preferred Stock with a liquidation preference of $100,000 per share and a par value of $0.01 per share.
- Public Offering Details: The firm is undertaking a public offering of 500,000 depositary shares (each representing a 1/100th interest in a preferred share) under an underwriting agreement with major financial institutions.