Bank New York Mellon Corp Stock Price, News & Analysis

On October 20, 2020, Alcentra appointed Chris Mulshine as Head of U.S. Distribution, enhancing its leadership team amid a competitive market. He brings 25 years of experience in private credit and alternative asset management, having previously held senior roles at Lazard, Credit Suisse, UBS, and Goldman Sachs. His focus will be on developing sales and marketing strategies to expand Alcentra's U.S. investor base. Alcentra manages over US$42.1 billion in assets, offering diverse credit solutions since its inception in 2002.

The Bank of New York Mellon Corporation (NYSE: BK) announced a quarterly common stock dividend of $0.31 per share, payable on November 10, 2020, to shareholders of record by October 28, 2020. Additionally, it declared dividends on preferred stock for the period ending in December 2020, payable on December 21, 2020. Dividends include $1,011.11 for Series A, $1,300.00 for Series C, $2,250.00 for Series D, and $921.98 for Series E preferred stock holders of record by December 5, 2020.

The Bank of New York Mellon Corporation (BK) reported a net income of $876 million for Q3 2020, representing a 3% decline from Q2 2020 and a 13% drop from Q3 2019. Diluted earnings per share decreased by 8% year-over-year to $0.98. Total revenue was $3.8 billion, down less than 1%, driven by a 1% decline in fee revenue and a 4% decrease in net interest revenue. The common equity Tier 1 (CET1) ratio improved to 13.0%, with continued investments in technology and a focus on cost management. The company aims to resume share buybacks as economic conditions stabilize.

BNY Mellon Wealth Management has appointed Michael Dawkins as Market President in Atlanta, GA, effective immediately. He will manage all facets of wealth management in the Atlanta area, reporting to Southeast Regional President Kent Moegerle. Dawkins brings nearly 30 years of experience, including a decade at BNY Mellon, formerly serving as Senior Director. His extensive background encompasses high-net-worth and institutional asset management. BNY Mellon manages $254 billion in client assets as of June 30, 2020, providing comprehensive wealth services globally.

BNY Mellon Wealth Management has appointed Audrianna Sibiski as Senior Client Strategist in Menlo Park, CA. With significant experience from her previous role at Bank of America Private Bank, she will advise high-net-worth clients on wealth strategy and planning.

Reporting to Thomas Fickinger, Regional President, Audrianna brings a wealth of global business and financial services expertise. BNY Mellon manages $254 billion in client assets as of June 30, 2020, and operates extensively in the wealth management sector.

BNY Mellon has announced the redemption of all issued 2.450% Senior Notes due November 27, 2020, totaling $800 million. The redemption date is set for October 27, 2020, where the principal amount will be redeemed at 100% plus any accrued interest. Following the redemption date, the notes will no longer be considered outstanding, and no further interest will accrue. The payment will be facilitated through The Depository Trust Company. As of June 30, 2020, BNY Mellon managed $37.3 trillion in assets under custody.

BNY Mellon Wealth Management has appointed Edward Mora as the new Regional President for Orange County, CA. With over 27 years of experience in wealth management, Mora will oversee business operations across Orange and San Diego counties, including advisory and private banking. Previously, he held senior roles at Bank of the West and Union Bank. Mora aims to enhance the firm's Active Wealth strategy, focusing on serving affluent families and business owners. As of June 30, 2020, BNY Mellon managed $254 billion in client assets.

BNY Mellon has released a paper titled "Capital Markets Infrastructure: What is the New Normal after COVID-19?" analyzing the pandemic's effect on capital markets infrastructure (CMI). The paper highlights that COVID-19 ended the U.S. stock market's 11-year bull run and caused unprecedented market stress, with trading volumes increasing while transaction sizes fell by 46%. Despite challenges, CMI providers remained resilient. The report discusses shifts in financial services, emphasizing streamlined communication, enhanced collaboration, and the need for standardized data to bolster market resilience.

BNY Mellon Wealth Management has appointed Greg Teegen as Senior Client Strategist in Chicago, effective immediately. With over 25 years of experience in financial services, Greg will support ultra-high-net-worth clients, including business owners and private equity fund principals. He previously served as an Executive Director at J.P. Morgan Private Bank. BNY Mellon Wealth Management manages $254 billion in client assets, focusing on providing comprehensive wealth strategies.