Welcome to our dedicated page for Bank New York Mellon news (Ticker: BK), a resource for investors and traders seeking the latest updates and insights on Bank New York Mellon stock.
The Bank of New York Mellon Corporation reports news as BNY, a global financial services platforms company serving capital markets through custody, administration, investment services and asset management. Company updates commonly cover quarterly results, financial supplements, common and preferred stock dividends, and corporate-brand or listed-security matters tied to its NYSE-traded securities.
BNY-related news also includes activity across its investment management platform, including fund adviser communications and dividend announcements for BNY Mellon-branded investment products. These updates reflect the company's role in servicing financial assets, supporting institutional clients and managing investment strategies across major asset classes.
BNY Mellon (NYSE: BK) has appointed Dermot McDonogh as Chief Financial Officer, effective February 1, 2023. He will join on November 1, 2022, and report to CEO Robin Vince. McDonogh, previously COO for EMEA at Goldman Sachs, brings over 25 years of experience in finance and financial operations. Emily Portney will transition from CFO to lead Treasury Services and related sectors. This leadership change aims to enhance BNY Mellon's financial strategy and operations, reinforcing its stability amid market volatility.
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BNY Mellon and Emirates NBD have formed a strategic alliance to enhance the growth of the UAE's capital markets. This partnership combines BNY Mellon's global capabilities with Emirates NBD's regional expertise to improve market access for investors. Executives from both companies highlighted the alliance's role in digitalizing the market and facilitating international investor participation amid a surge in local IPOs. BNY Mellon oversees $45.5 trillion in assets under custody, while Emirates NBD's total assets reached AED 694 billion (approx. $189 billion) as of March 31, 2022.
BNY Mellon announced its intention to increase its quarterly cash dividend by 9%, raising it from $0.34 to $0.37 per share, pending Board approval. This change follows the Federal Reserve's 2022 stress test results, which confirmed the company's strong capital position and resilience. The Stress Capital Buffer will remain at 2.5% effective from October 1, 2022 to September 30, 2023. The firm is also authorized for share repurchases, enhancing value for shareholders.
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On June 22, 2022, the BNY Mellon High Yield Strategies Fund (NYSE:DHF) declared a monthly cash dividend of $0.0185 per share, to be paid on July 21, 2022, to shareholders of record as of July 7, 2022. The ex-dividend date is set for July 6, 2022. This marks the same dividend amount as the previous month. BNY Mellon Investment Management, which oversees the fund, manages approximately $2.3 trillion in assets, underscoring the strength and stability of the firm.
BNY Mellon FX achieved its best-ever ranking at the Euromoney Awards, moving to 8th place in 2022 from 32nd in 2018. The company secured 1st place in 13 categories, including Customer Satisfaction and Research, for three consecutive years. The success is attributed to enhancements in the iFlow platform and expanded FX services, including modernized Custody FX and improved eFX capabilities. As of March 31, 2022, BNY Mellon managed $2.3 trillion in assets and held $45.5 trillion in custody.
Newton Investment Management, under BNY Mellon, has set ambitious targets for achieving net zero emissions across its investment portfolios, aligning with the Net Zero Asset Managers initiative. They aim for 50% of financed emissions to be covered by credible transition plans by 2030 and 100% by 2040. Currently, 67% of their assets under management (AUM) are committed. Key strategies involve real-world decarbonization, engaging with high-emitting companies, and investing in solution providers. Progress will be monitored by a dedicated sustainability committee.
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BNY Mellon Alcentra Global Credit Funds announce a significant change in control of their sub-adviser, Alcentra NY, LLC, with BNY Mellon set to sell its interest to Franklin Templeton. This transition, expected to finalize in Q4 2022, will involve the automatic termination of current sub-advisory agreements and require the approval of new agreements by the Funds' Board and shareholders. Notably, there will be no increase in advisory fees as a result of this transaction, maintaining the current fee structure. This change aims to ensure uninterrupted service for the Funds.