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The Bank of New York Mellon Corporation - $BK STOCK NEWS

Welcome to our dedicated page for The Bank of New York Mellon Corporation news (Ticker: $BK), a resource for investors and traders seeking the latest updates and insights on The Bank of New York Mellon Corporation stock.

BNY Mellon, officially known as The Bank of New York Mellon Corporation (NYSE: BK), stands as a global leader in the financial services sector. With a rich heritage dating back over 240 years, BNY Mellon offers a comprehensive suite of services aimed at managing and servicing financial assets for institutions, corporations, and individual investors.

Operating in 35 countries and more than 100 markets, the company provides investment management and investment services with unparalleled expertise. As of March 31, 2024, BNY Mellon oversees an impressive $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. This makes BNY Mellon the world's largest global custody bank, serving as a vital partner to its clients by facilitating the creation, trading, holding, managing, servicing, distributing, or restructuring of investments.

BNY Mellon's client base includes over 90% of Fortune 100 companies, nearly all the top 100 banks globally, and an extensive roster of governments, pension plans, and more. The company's vast influence and industry leadership are further cemented by its recent collaborations and initiatives aimed at democratizing financial services. These include strategic partnerships with minority depository institutions (MDIs) such as Ponce Bank, along with other mission-driven financial firms like Optus Bank, MoCaFi, and IntraFi.

One of the latest milestones for BNY Mellon is the enhancement of Pershing X's Wove platform, which aims to revolutionize wealth management by providing interconnected advisory tools for registered investment advisors, broker-dealers, and wealth management firms. This innovation aligns with BNY Mellon's ongoing commitment to leverage cutting-edge technology for the benefit of its clients and the broader financial ecosystem.

With a workforce of over 50,000 employees worldwide and recognition from prestigious entities like Fortune and Fast Company for its workplace innovation, BNY Mellon continues to set industry standards. The firm remains dedicated to helping its clients achieve their financial ambitions by putting its extensive expertise and platforms to work, ensuring that money moves efficiently and securely across the globe.

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Buenaventura, Peru's largest publicly traded precious metals mining company, has resumed ore processing operations at its El Brocal mine. The resumption began at midnight on June 7, 2024, to process the accumulated 220,000 tonnes of copper ore. The processing rate will ramp up to 15,000 tons per day, aiming to meet the budgeted production for Q3 2024 and the full-year 2024 production guidance. The resumption follows an agreement between the Huaraucaca community leaders and El Brocal representatives, facilitated by Peru's Ministry of Energy and Mines. The agreement addresses compliance with commitments between the parties. Buenaventura reaffirms its commitment to all signed agreements with surrounding communities.

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The Bank of New York Mellon (BNY Mellon) has announced its intention to redeem all issued and outstanding 3.430% Fixed Rate / Floating Rate Callable Senior Notes due June 13, 2025. The total principal amount of these notes stands at $362,688,000. The notes will be redeemed on June 13, 2024, at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date. Post-redemption, the notes will no longer accrue interest and will no longer be considered outstanding. Payment will be processed through The Depository Trust Company.

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Dreyfus, part of BNY Mellon, has introduced BOLD® Future, a new share class for retail investors under the Dreyfus Government Cash Management fund.

The initiative will support Howard University's GRACE Grant by donating 10% of net revenue from this share class to a dedicated scholarship fund.

BOLD Future aims to cater to financial advisors and their clients with a minimum investment requirement of $25,000. This new offering follows strong demand from institutional investors for BOLD, which stands for Black Opportunity for Learning and Development.

The partnership underscores Dreyfus' commitment to social impact, having already donated over $1 million to Howard University.

BNY Mellon, a global financial services company, manages $48.8 trillion in assets under custody and $2.0 trillion in assets under management as of March 2024.

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BNY Mellon Municipal Bond Infrastructure Fund (NYSE: DMB) has announced a distribution of $0.0300 per share, payable on July 1, 2024, to shareholders of record on June 20, 2024. The ex-dividend date is also June 20, 2024. This distribution matches the previous one from May. The Fund aims to provide regular monthly distributions based on projected performance. To maintain stable distributions, it may pay out less than its net investment income or return capital. Market conditions and portfolio performance may cause changes in distribution rates and policies. BNY Mellon Investment Management, a division of BNY Mellon, manages $2.0 trillion in assets as of March 31, 2024, and BNY Mellon holds $48.8 trillion in assets under custody and administration.

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BNY Mellon has announced new enhancements to Pershing X's Wove platform, a wealth management tool. The updates include Wove Investor, a client portal for investors to manage multiple accounts, and Wove Data, a cloud-based tool for C-suite executives to analyze large data sets. Additionally, Portfolio Solutions offers new features to help advisors optimize investment strategies.

The Wove Investor portal allows users to check balances and perform tasks across various custodians, with future updates planned for money transfers and advisor collaboration. Wove Data aims to provide deeper insights into wealth management performance, while Portfolio Solutions enhances efficiency in aligning investment products with client objectives.

These updates are part of BNY Mellon's ongoing commitment to innovation in the wealth management sector, as articulated by Pershing X President, Ainslie Simmonds.

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BNY Mellon has announced a new bundled offering through Pershing, aimed at financial advisors, including RIAs, broker-dealers, and banks. This package integrates services from BNY Mellon Investment Management and BNY Mellon Advisors, potentially providing up to 40% in savings. The initiative seeks to simplify the investment process for advisors by combining asset allocation, manager selection, investment management products, customized tax solutions, and custody and clearing services. The offering is backed by BNY Mellon's 240 years of financial expertise and is designed to help advisors better meet client needs and improve their practice efficiency.

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BNY Mellon announced the launch of customized tax solutions and expanded its Precision Direct Indexing suite. Financial advisors, broker-dealers, and RIAs can now access these services to better align with their clients' investment goals. Managed by Mellon's expert team, the new offerings include tax transition management and tax overlay management. These services allow portfolio migration considering various factors like time horizon and tax budget. Additionally, five new direct indexing strategies have been added: US Core 500, US Total Market, US Large Cap Growth, US Large Cap Value, and International Developed Core. As of March 31, 2024, BNY Mellon oversees $48.8 trillion in assets under custody and $2.0 trillion in assets under management.

Stephanie Hill, Head of Index at Mellon, emphasized the firm's dedication to delivering institutional-quality index management to retail investors. BNY Mellon serves a wide range of clients, including over 90% of Fortune 100 companies and top 100 banks globally. Mellon manages $486.1 billion in assets and offers solutions tailored to sophisticated investors. For more information, visit BNY Mellon's website.

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The Community Development Bankers Association (CDBA) and the National Bankers Association (NBA) have launched the Advancing Communities Together (ACT) Deposit Program. This initiative aims to channel $35 million from major financial firms into banks serving low-income and minority communities. The deposits are FDIC-insured, with expectations of more funding from corporations, foundations, and universities. Participating firms include Blackstone, BNY Mellon, Warburg Pincus, and IntraFi. The program simplifies the funding process, distributing deposits among over 70 community banks to facilitate lending and promote economic growth in underserved areas. The program is part of a larger effort to leverage $6 billion in Treasury funds to support communities affected by the pandemic.

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AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) for BNY Trade Insurance and The Hamilton Insurance Corp. The outlook for these ratings is stable. BNY Trade’s balance sheet strength is assessed as the strongest, supported by risk-adjusted capitalization at the strongest level, excellent liquidity, and consistent net profits over the past five years. Hamilton’s balance sheet is assessed as very strong, with strong liquidity measures exceeding industry averages and support from its parent company, BNY Mellon. Both companies show strong operating performance with favorable combined ratios and low expense structures.

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BNY Mellon Investment Adviser announced monthly distributions for BNY Mellon Strategic Municipal Bond Fund (DSM) and BNY Mellon Strategic Municipals (LEO). The distributions are $0.018 per share for DSM and $0.019 per share for LEO, payable on June 28, 2024, to shareholders of record on June 14, 2024, with an ex-dividend date of June 14, 2024.

BNY Mellon Investment Management, managing $2.0 trillion in assets, is a division of BNY Mellon, holding $48.8 trillion in assets under custody as of March 31, 2024. BNY Mellon, established in 1784, offers comprehensive financial services globally, trading closed-end funds on secondary markets.

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FAQ

What services does BNY Mellon provide?

BNY Mellon offers investment management and investment services, including asset custody, administration, and financial advisory services.

What is BNY Mellon's global reach?

BNY Mellon operates in 35 countries and more than 100 markets globally, serving clients from institutions to individual investors.

How much assets does BNY Mellon manage?

As of March 31, 2024, BNY Mellon manages $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.

Who are BNY Mellon's clients?

BNY Mellon serves over 90% of Fortune 100 companies, nearly all the top 100 banks globally, and a wide range of governments, pension plans, and individual investors.

What recent collaborations has BNY Mellon announced?

BNY Mellon recently announced a collaboration with Ponce Bank as part of the U.S. Treasury Department's Financial Agent Mentor-Protégé Program, among other alliances.

What is the significance of the Wove platform?

The Wove platform, enhanced by BNY Mellon's Pershing X, aims to provide interconnected advisory tools for wealth management, helping clients better manage their financial data.

How many people does BNY Mellon employ?

BNY Mellon employs over 50,000 people worldwide.

Where is BNY Mellon headquartered?

BNY Mellon is headquartered in New York City.

What recognition has BNY Mellon received?

BNY Mellon has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators.

How long has BNY Mellon been in operation?

BNY Mellon has a history spanning over 240 years in the financial services industry.

The Bank of New York Mellon Corporation

NYSE:BK

BK Rankings

BK Stock Data

43.83B
751.46M
0.16%
87.36%
0.94%
Commercial Banking
Finance and Insurance
Link
United States of America
NEW YORK

About BK

bny mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. whether providing financial services for institutions, corporations or individual investors, bny mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. as of dec. 31, 2014, bny mellon had $28.5 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. bny mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. bny mellon is the corporate brand of the bank of new york mellon corporation (nyse: bk). additional information is available on www.bnymellon.com, or follow us on twitter @bnymellon. http://www.bnymellon.com/legal/index.html#social