Bank New York Mellon Corp Stock Price, News & Analysis

The AFL-CIO has partnered with Wilmington Trust, BNY Mellon, and PGIM Fixed Income to introduce 12 target date collective investment trust (CIT) funds. This initiative aims to enhance retirement planning options for its 56 unions and 12.5 million members. The funds feature a low-cost structure with a flat fee of 12 basis points, ensuring accessibility and retirement security for workers. Wilmington Trust will act as trustee, while BNY Mellon will manage glidepath services, and PGIM Fixed Income will handle fixed income management.

The Bank of New York Mellon Corporation (NYSE: BK) announced the redemption of its 2.500% Senior Notes, with a total principal amount of $1 billion, due April 15, 2021. The redemption is set for March 15, 2021, at which point the Notes will no longer earn interest. Investors will receive the principal amount plus any accrued interest. As of December 31, 2020, BNY Mellon managed $2.2 trillion in assets and held $41.1 trillion in assets under custody and/or administration.

BNY Mellon executives, Emily Portney and Robin Vince, will present at the RBC Global Financial Institutions Conference on March 10, 2021, at 11:20 a.m. ET. The session may include forward-looking statements and significant material information. A live webcast will be accessible through the BNY Mellon website, with an archived version available for viewing until April 10, 2021. As of December 31, 2020, BNY Mellon managed $41.1 trillion in assets under custody and $2.2 trillion in assets under management.

BNY Mellon Investment Management has announced the launch of 14 SMA ETF portfolio models on the Envestnet platform, expanding its ETF offerings since April 2020. These model portfolios are designed to meet various client objectives, employing quantitative stress testing and capital market assumptions. The portfolios cater to diverse risk profiles, from conservative to aggressive. CEO Stephanie Pierce highlighted a client-focused approach to investments, while the company aims to broaden access to its investment capabilities. BNY Mellon's assets under management stand at $2.2 trillion as of December 31, 2020.

BNY Mellon announced the formation of a new Digital Assets unit aimed at developing solutions for the growing demand for digital assets, including cryptocurrencies. Led by Mike Demissie, the team is currently working on a multi-asset digital custody and administration platform. The initiative responds to increasing client demand and regulatory clarity, with plans to launch these capabilities later this year. BNY Mellon aims to leverage its expertise and technology to enhance custody and investment services, bridging traditional and digital financial spaces.

BNY Mellon Investment Management plans to realign Mellon Investments Corporation's strengths in fixed income, equities, multi-asset, and liquidity management with its investment firms: Insight, Newton, and Dreyfus CIS. This strategic move aims to enhance specialist capabilities and research platforms, expected to complete by Q3 2021, pending regulatory approvals. Key figures include $2.2 trillion in assets under management and $105.2 billion from Mellon's fixed income capabilities. The realignment may broaden investment opportunities and strengthen client service while maintaining investment processes through the transition.

On February 9, 2021, BNY Mellon was chosen by Gabelli Funds to launch its new actively managed ETF, Gabelli Love Our Planet and People (LOPP). This fund targets sustainable companies focusing on renewable energy and waste reduction, utilizing a thorough ESG analysis. Notably, Gabelli Funds will absorb all fees on the first $100 million invested for the first year. Ben Slavin of BNY Mellon highlighted the growing demand for ESG products, emphasizing the importance of their OMNI platform in facilitating this collaboration for improved efficiency in fund administration.

BNY Mellon has partnered with Google Cloud to enhance settlement processes in the U.S. Treasury market. This collaboration aims to predict 40% of settlement failures in Fed-eligible securities with 90% accuracy, potentially saving billions in capital and liquidity. BNY Mellon will utilize Google Cloud's AI, ML, and data analytics to develop innovative collateral management solutions and improve operational efficiency. The initiative highlights BNY Mellon's commitment to leveraging advanced technologies to reduce transaction failures and create a more efficient financial market.