News for Bank of New York Mellon
Feb 17 · 8:40:00 AM · Source: Company Press Release
BNY Mellon said it has signed a definitive agreement to acquire the corporate trust business of CIBC Mellon. The acquisition is expected to close by the end of the
The acquisition will more than double BNY Mellon's share of the corporate trust market in Canada and expand its leadership position in a number of key segments, servicing domestic and cross-border debt issuances, structured credit and securitizations, government stimulus programs and public private partnership transactions.
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by Larry Etter
Feb 12 · 12:13:00 PM · Source: Company Press Release
BNY Mellon and Bank of China, New York Branch have announced the launch of BOC-NYB's new Web-based remittance service. Allowing customers in the U.S. to remit funds to any of Bank of China's more than 100 global locations and thousands of locations in China, as well as to virtually all other banks in China, the service is based on the Remit Worldwide solution provided by BNY Mellon Treasury Services.
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by Larry Etter
Nov 12 · 4:42:00 PM · Source: Reuters
Bank of New York Mellon CEO Bob Kelly told the bank's senior managers he is not interested in the top job at Bank of America Corp, defusing speculation that he would leave his current post.
"I want to be clear: I am not interested," Kelly wrote.
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by Michael Oliveto
Nov 3 · 4:40:00 PM · Source: Reuters
The Bank of New York Mellon Corporation announced that it has acquired a 20% minority interest in Siguler Guff & Company LLC and certain related entities, a multi-strategy private equity firm with approximately $8 billion in assets under management and committed capital.
Siguler Guff's focused investment offerings include fund of funds targeting distressed security investing, investing in emerging markets, including Brazil, Russia, India and China, and investing in small cap buyout opportunities.
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by Michael Oliveto
Nov 3 · 4:40:00 PM · Source: Reuters
The Bank of New York Mellon Corporation announced that it has completed its previously announced acquisition of Pinnacle Arbitrage Compliance, one of the independent U.S. firms devoted exclusively to compliance services for tax-exempt bond issuers and conduit borrowers.
Terms of the agreement, first announced on September 2, were not disclosed.
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by Michael Oliveto
Nov 3 · 4:38:00 PM · Source: Reuters
The Bank of New York Mellon Corporation announced that it has completed the acquisition of Insight Investment Management Limited from Lloyds Banking Group plc.
Based in London, Insight Investment specialises in Liability Driven Investment solutions, active Fixed Income and Absolute Return. Insight Investment's assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately $133 billion.
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by Michael Oliveto
Oct 28 · 12:53:00 PM · Source: China Knowledge
Bank of New York Mellon's joint venture with China's Western Securities Co Ltd is still in the process of the Chinese regulatory approval, said Robert P. Kelly, chief executive of the U.S.-based bank, on Tuesday.
The proposed JV asset management firm, in which BNY Mellon intends to take a 49% stake, will open soon after the regulatory approval, with a focus on the retail market in China, according to the chief executive.
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by Michael Oliveto
Oct 27 · 12:01:00 PM · Source: Reuters
Bank of New York Mellon sees more acquisition opportunities in Europe than in Asia, the head of the world's largest custodian of financial assets said on Tuesday.
Robert Kelly, the bank's chairman and chief executive, said European financial institutions had been harder hit by the global economic crisis than their counterparts in Asia and were refocusing their businesses as a consequence.
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by Michael Oliveto
Oct 22 · 11:07:00 AM · Source: Reuters
The Bank of New York Mellon Corporation and The Federal Customs Service of the Russian Federation announced the settlement of the litigation filed by the Customs Service against The Bank in the Moscow City Arbitration.
Proceedings in the Moscow City Arbitration court have now been terminated and both parties have concurrently reached an out-of-court settlement agreement. Under this agreement, without admission of liability, The Bank shall pay $14 million as compensation. The claim, which sought $22.5 billion, was brought by the Federal Customs Service of the Russian Federation in the Moscow City Arbitrazh Court in May 2007.
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by Michael Oliveto
Oct 20 · 11:11:00 AM · Source: CNBC
Bank of NY Mellon reported a Q3 net loss of $2.05 per share on net losses of $2.5 billion versus earnings of $0.26 per share on a net profit of $303 million for the year ago period.
The current quarter’s losses include a one-time pre-tax charge of $4.8 billion to restructure its investment portfolio. Excluding the one-time charge the company earned $0.54 per share and beat analyst forecasts of $0.48 per share.
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by Michael Oliveto
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