About the Company
Bank of New York Mellon Corporation, also known as BNY Mellon Corp. is the successor of the more than two-century-old bank, Bank of New York. It was founded on 1st July 2007 as a result of the merger between Mellon Financial Corporation and Bank of New York.
Within a year it was named the master custodian of the Troubled Asset Relief Program (TARP) bailout fund by the US Treasury during the financial crisis of 2007 to 2010. In February 2009 it was one of the three American banks that withstood the worsening economy as per a stress test conducted by federal regulators.
Between 2009 to 2011, the company acquired Insight Investments from Lloyds Banking Group, Global Investment Servicing Inc. from PNC Financial Services and the wealth management business that belonged to Talon Asset Management.
As of 2020 BNY Mellon Corp operates in 35 countries around the world and owns about $2 trillion assets under management. Some of the countries where it operates include Canada, Poland, Russia, Spain, France, Egypt, Germany, Lebanon, Taiwan, India, Indonesia, Malaysia, Australia, Thailand, China, etc.
The company offers solutions to seven different types of clients - banks, corporations, alternative asset managers, insurance companies, asset managers, broker-dealers and governments, sovereigns & not-for-profits. In 2014, it opened a new Markets Group called BNY Mellon Markets, which offers securities finance, foreign exchange, collateral management and capital markets.
Bank of New York was the first company to be traded in the New York Stock Exchange market in 1792. Now, BNY Mellon Corp trades under BK share as its ticker symbol.
It aims to innovate the banking and finance industry with the help of technology, and for that, it has formed alliances with brands like Bloomberg and Aladdin BlackRock. During 2014 to 2016 it opened several innovation centres that focused on big data, emerging technologies, cloud-based and digital projects. As of 2020, it is headquartered at 240 Greenwich Street, Manhattan, New York after changing the location three times.
It has attained several recognitions during its double century-long legacy. However, some of its recent achievements include a spot in the Fortune 500 list and Financial Times Global 500 list in 2018. It was also named one of the 50 Safest Banks by Global Finance for two consecutive years, 2013 and 2014. The Banker recognised it as one of the 20 Most Valuable Banking Brands of 2014.;
|Organisation||Bank of New York Mellon Corp The|
|HeadQuarters||New York, NY|