{{Short description|American financial services company}} {{other uses}} {{Use American English|date=December 2025}} {{Use mdy dates|date=August 2022}} {{Infobox company | name = The Bank of New York Mellon Corporation | logo = BNY logo 2024.svg | image = 101 Barclays Street.jpg | image_caption = Headquarters at 240 Greenwich Street | type = Public | traded_as = {{Unbulleted list|class=nowrap|{{NYSE|BNY}}|S&P 100 component|S&P 500 component}} | predecessors = {{Unbulleted list| Bank of New York (founded 1784) | Mellon Financial (founded 1870)}} | industry = Financial services | founded = {{Start date and age|2007|07|01}} | founders = | hq_location = Manhattan, New York City, U.S. | area_served = Worldwide | key_people = {{Unbulleted list|class=nowrap | Robin Vince (CEO) | Dermot McDonogh (CFO) }} | products = {{ubl | Asset management | Banking | Equities trading | Investment management | Private equity | Wealth management }} | revenue = {{nowrap|{{increase}} {{US$|18.6|link=yes}} billion (2024)}} | operating_income = {{nowrap|{{increase}} US$5.85 billion (2024)}} | net_income = {{nowrap|{{increase}} US$4.53 billion (2024)}} | aum = {{nowrap|{{increase}} US$2.03 trillion (2024)}} | assets = {{nowrap|{{increase}} US$416 billion (2024)}} | equity = {{nowrap|{{increase}} US$41.3 billion (2024)}} | num_employees = 61,800 (2024) | subsid = {{ubl|BNY Investments|BNY Pershing|BNY Wealth}} | website = {{URL|https://www.bny.com/|bny.com}} | footnotes = <ref name="10K2025">{{cite web |title=The Bank of New York Mellon Corporation 2024 Annual Report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1390777/000139077725000046/bk-20241231_d2.htm |publisher=U.S. Securities and Exchange Commission |date=February 27, 2025 |access-date=February 28, 2025}}</ref> }}
'''The Bank of New York Mellon Corporation''', commonly known as '''BNY''' or by its prior brand name '''BNY Mellon''', is an American international financial services company headquartered in New York City with major offices also in Pittsburgh, Pennsylvania. It was established in its current form in July 2007 by the merger of the '''Bank of New York''' and Mellon Financial Corporation. Through the lineage of Bank of New York, which was founded in 1784 by a group that included Alexander Hamilton, BNY is regarded as one of the three oldest banks in the United States and among the oldest in the world. It was the first company listed on the New York Stock Exchange. In 2024, it was ranked 130th on the ''Fortune'' 500 list of the largest U.S. corporations by total revenue, and a 2018 ''Fortune'' analysis identified it as the oldest company on the list.<ref>{{cite web|url=https://fortune.com/longform/fortune-500-through-the-ages |author=Rapp, Nicolas, and Brian O'Keefe. |title=See the Age of Every Company in the Fortune 500"] |website=Fortune |date=May 21, 2018 |access-date=July 22, 2025}}</ref> As of 2024, it was the 13th-largest bank in the United States by total assets and the 83rd-largest in the world. BNY is considered a systemically important financial institution by the Financial Stability Board.
BNY provides a wide range of financial services, including asset management, custody and securities services, government finance services, and pension plan management.<ref>{{cite news |date=25 May 2023 |title=Meaghan Muldoon to spearhead sustainability at BNY Mellon |url=https://fintech.global/2023/05/25/meaghan-muldoon-to-spearhead-sustainability-at-bny-mellon/ |access-date=4 December 2023 |work=FinTech Global}}</ref> The company serves diverse clients, including corporations, institutions, and individuals, offering financial expertise and technological platforms to support their objectives. The company's key subsidiaries include BNY Investments, BNY Pershing, and BNY Wealth. It is the world's largest custodian bank and securities services company.<ref name="Teather06" /><ref name="Fitzpatrick07" /><ref name="Tascarella07" /> As of September 2024, BNY had $2.1{{nbsp}}trillion in assets under management and $52.1{{nbsp}}trillion in assets under custody and administration, making it the first bank to surpass $50{{nbsp}}trillion.<ref>{{cite web|url=https://fortune.com/2024/10/11/bny-becomes-first-bank-in-history-with-50-trillion-in-assets-under-custody-and-administration-on-the-way-to-a-record-quarter/|title=BNY becomes first bank in history with $50 trillion in assets under custody and administration on the way to a record quarter|website=Forbes|first=Michael|last=Del Castillo|date=October 11, 2024|access-date=November 12, 2024}}</ref> BNY has been named among ''Fortune''{{'}}s World's Most Admired Companies.<ref name=":3">{{Cite web |title=World's Most Admired Companies |url=https://fortune.com/ranking/worlds-most-admired-companies/ |access-date=September 20, 2024 |website=Fortune |language=en}}</ref>
==History== ===Bank of New York=== thumb|left|The Walton Mansion housed the Bank of New York from 1784 to 1787.
The first bank in the U.S. was the Bank of North America in Philadelphia, which was chartered by the Continental Congress in 1781; Alexander Hamilton, Thomas Jefferson and Benjamin Franklin were among its founding shareholders.<ref name=Globe2011>{{cite news|last1=Wallack|first1=Todd|title=Which bank is the oldest? Accounts vary |url=https://www.bostonglobe.com/business/2011/12/20/oldest-bank-america-accounts-vary/WAqvIlmipfFhyKsx8bhgAJ/story.html|work=The Boston Globe|date=December 20, 2011}}</ref> In February 1784, The Massachusetts Bank in Boston was chartered.<ref name=Globe2011/>
The shipping industry in New York City chafed under the lack of a bank, and investors envied the 14% dividends that Bank of North America paid, and months of local discussion culminated in a June 1784 meeting at a coffee house on St. George's Square which led to the formation of the Bank of New York company.{{Citation needed|date=April 2023}} The bank operated without a charter for seven years.<ref>{{Cite book |last=Moss |first=David A. |title=Democracy |publisher=Harvard University Press |year=2017 |isbn=978-0-674-97145-5 |location=London |pages=113 |language=en}}</ref> The initial plan was to capitalize the company with $750,000, a third in cash and the rest in mortgages, but after this was disputed the first offering was to capitalize it with $500,000 in gold or silver. When the bank opened on June 9, 1784, the full $500,000 had not been raised; 723 shares had been sold, held by 192 people. Aaron Burr had three of them, and Hamilton had one and a half shares. The first president was Alexander McDougall and the Cashier was William Seton.<ref name=NYT1909/><ref name=Jaffe14/><ref name="Hubbard1995">{{cite book|first=J. T. W. |last=Hubbard|title=For Each, the Strength of All: A History of Banking in the State of New York|url=https://archive.org/details/foreachstrengtho00hubb|url-access=registration|year=1995|publisher=NYU Press|isbn=978-0-8147-3514-5|page=[https://archive.org/details/foreachstrengtho00hubb/page/43 43]}}</ref><ref name="Hamilton1869">{{cite book|first=James |last=Alexander Hamilton|title=Reminiscences of James A. Hamilton: or, Men and events, at home and abroad, during three quarters of a century|url=https://archive.org/details/reminiscencesja01hamigoog|year=1869|publisher=C. Scribner & co.|page=[https://archive.org/details/reminiscencesja01hamigoog/page/n282 265]}}</ref>
Its first offices were in the old Walton Mansion in New York City.<ref name=Teather06>{{cite news |title=Bank of New York merges with Mellon in £8bn deal |first=David |last=Teather |url=https://www.theguardian.com/business/2006/dec/05/usnews.internationalnews |work=The Guardian |date=December 5, 2006 |access-date=January 14, 2015 |location=London}}</ref><ref name=NYT1909/><ref name=Jaffe14>{{cite book |title=Capital of Capital: Money, Banking, and Power in New York City |first1=Steven H.|last1= Jaffe |first2=Jessica |last2=Lautin |year=2014 |publisher=Columbia University Press |location=New York |isbn=978-0231537711 |pages=9, 23 |url=https://books.google.com/books?id=O8rbAgAAQBAJ&q=history+of+bank+of+new+york&pg=PA20 |access-date=January 14, 2015}}</ref> In 1787, it moved to a site on Hanover Square that the New York Cotton Exchange later moved into.<ref name=NYT1909/>
The bank provided the United States government its first loan in 1789. The loan was orchestrated by Hamilton, then Secretary of the Treasury, and it paid the salaries of United States Congress members and President George Washington.<ref name=Rhodes>{{cite magazine |title=Temporary Loan of 1789 |magazine=Rhodes' Journal of Banking |volume=21 |year=1894 |publisher=B. Rhodes & Company |location=Chicago |page=752 |url=https://books.google.com/books?id=BPQ-AQAAMAAJ&q=September+13%2C+1789+bank+of+new+york&pg=PA752 |access-date=January 14, 2015}}</ref>
The Bank of New York was the first company to be traded on the New York Stock Exchange when it first opened in 1792.<ref name="NYA">{{cite web |url=http://nyjobsource.com/bankofny.html |title=Bank of New York Profile |publisher=The New York Job Source |access-date=August 8, 2007 |archive-date=June 9, 2018 |archive-url=https://web.archive.org/web/20180609201344/http://nyjobsource.com/bankofny.html}}</ref> In 1796, the bank moved to a location at the corner of Wall Street and William Street, which would later become 48 Wall Street.<ref name=NYT1909/><ref>{{Cite web|url=https://www.bnymellon.com/us/en/timeline.jsp|title=Timeline|publisher=BNY Mellon|access-date=April 13, 2018|archive-date=March 30, 2020|archive-url=https://web.archive.org/web/20200330051523/https://www.bnymellon.com/us/en/timeline.jsp|url-status=dead}}</ref> [[File:Recto Bank of New York 3 dollars 1808 urn-3 HBS.Baker.AC 1124353.jpeg|alt=Bank of New York 3 dollar banknote|thumb|1808 Bank of New York 3 dollar banknote ]] The bank had a monopoly on banking services in the city until the Bank of the Manhattan Company was founded by Aaron Burr in 1799; the Bank of New York and Hamilton vigorously opposed its founding.<ref name=NYT1909>{{cite news|title=The Story of the Bank of New York; Oldest in New York and Second Oldest Recognized Bank in the Country.|url=https://query.nytimes.com/gst/abstract.html?res=9E03E0D6153EE733A25757C1A9609C946897D6CF&legacy=true|work=The New York Times|date=June 14, 1909|issn=0362-4331|url-access=limited}}</ref>
During the 19th century, the bank was known for its conservative lending practices that allowed it to weather financial crises. It was involved in the funding of the Morris and Erie canals, and steamboat companies.<ref name=Geisst09/><ref name=NYARCH/> The bank helped finance both the War of 1812 and the Union Army during the American Civil War.<ref name=Cox06>{{cite news |title=Bank of New York agrees to acquire Mellon Financial |first=Adrian |last=Cox |url=http://archive.sltrib.com/article.php?id=4768671&itype=NGPSID&keyword=&qtype= |work=The Salt Lake Tribune |date=December 4, 2006 |access-date=January 22, 2015}}</ref><ref name=RefBiz>{{cite web |url=http://www.referenceforbusiness.com/history2/20/The-Bank-of-New-York-Company-Inc.html |title=The Bank of New York Company, Inc. - Company Profile on The Bank of New York Company, Inc. |work=referenceforbusiness.com |publisher=Reference for Business |access-date=January 14, 2015}}</ref> Following the Civil War, the bank loaned money to many major infrastructure projects, including utilities, railroads, and the New York City Subway.<ref name=Geisst09>{{cite book |title=Encyclopedia of American Business History |first=Charles R. |last=Geisst |year=2009 |publisher=Infobase Publishing |isbn=978-1438109879 |pages=42–43 |url=https://books.google.com/books?id=5dGig0fYlj8C&q=%22bank+of+new+york%22+funded+subway&pg=PA43 |access-date=January 14, 2015}}</ref>
Through the early 20th century, the Bank of New York continued to expand and prosper.<ref name=NYARCH>{{cite web |url=http://www.nyc-architecture.com/LM/LM051-BANKOFNEWYORK.htm |archive-url=https://web.archive.org/web/20040529003038/http://www.nyc-architecture.com/LM/LM051-BANKOFNEWYORK.htm |url-status=usurped |archive-date=May 29, 2004 |title=Bank of New York Building Profile |publisher=NYC Architecture |access-date=January 22, 2015}}</ref><ref name=RefBiz/> In July 1922, the bank merged with the New York Life Insurance and Trust Company.<ref name="NYoldest">{{cite magazine |url=http://www.time.com/time/magazine/article/0,9171,747266-1,00.html |archive-url=https://web.archive.org/web/20090731232524/http://www.time.com/time/magazine/article/0,9171,747266-1,00.html |archive-date=July 31, 2009 |title=New York's Oldest |magazine=Time |access-date=January 14, 2015| date=March 26, 1934}}</ref> The bank continued to profit and pay dividends throughout the Great Depression, and its total deposits increased during the decade.<ref name="NYARCH"/><ref name=RefBiz/> In 1948, the bank again merged, this time with the Fifth Avenue Bank, which was followed by a merger in 1966 with the Empire Trust Company.<ref name=Geisst09/><ref name=RefBiz/> The bank's holding company was created in 1969.<ref name=Geisst09/> 140px|thumb|Older Bank of New York logo
In 1988, the Bank of New York merged with Irving Bank Corporation after a year-long takeover bid by Bank of New York.<ref>{{cite news|last1=Quint|first1=Michael|title=Irving Signs Merger Deal, Ending Fight|url=https://www.nytimes.com/1988/10/08/business/irving-signs-merger-deal-ending-fight.html?pagewanted=all|work=The New York Times|issn=0362-4331|url-access=limited|date=October 8, 1988}}</ref> Irving had been headquartered at 1 Wall Street and after the merger, this became the headquarters of the Bank of New York on July 20, 1988.<ref>{{cite web|title=Bank of New York (Formerly Irving Trust Company) Landmark|url=http://www.nyc-architecture.com/LM/LM051-BANKOFNEWYORK.htm|archive-url=https://web.archive.org/web/20040529003038/http://www.nyc-architecture.com/LM/LM051-BANKOFNEWYORK.htm|url-status=usurped|archive-date=May 29, 2004|publisher=New York Architecture|access-date=September 13, 2017}}</ref><ref>{{cite web |url=http://www.bankofny.com/pressrel/hq072098.htm |title=The Bank Of New York Relocates Headquarters To One Wall Street |work=BONY website |date=July 20, 1998 |access-date=August 6, 2021 |archive-date=August 17, 2000 |archive-url=https://web.archive.org/web/20000817055439/http://www.bankofny.com/pressrel/hq072098.htm}}</ref><ref>{{cite web |url=http://www.bankofny.com/about/ahst.htm |title=About The Bank of New York: History of The Bank of New York |work=BONY website |access-date=August 6, 2021 |archive-date=July 8, 2000 |archive-url=https://web.archive.org/web/20000708070413/http://www.bankofny.com/about/ahst.htm}}</ref>{{efn|In 1922, Irving Trust opened an account with Vnesheconombank, known since 2018 as VEB.RF, and beginning on October 7, 1988, when the merger was approved, the Bank of New York was able to conduct transactions with the Soviet Union and later in 1991 Russia.<ref name=IrvingTrustandVEB>{{Cite book |url=https://books.google.com/books?id=-dPpeeU84h0C&q=Irving+Trust&pg=PA317 |title=Russian Money Laundering: United States Congressional Hearing (serial number 106-38) |date=September 21, 1999 |publisher=Diane Publishing |editor-last=Leach |editor-first=James A. |editor-link=James A. Leach |page=383 |isbn=9780756712556 |access-date=April 13, 2021}}</ref> Natasha Kagalovsky (née Gurfinkel) with the pseudonym ''Gurova'', who had been an employee at Irving Trust since 1986 and was in charge of the banking with the Soviet Union, became a senior vice president at the Bank of New York heading the Eastern European operations from 1992 until October 13, 1999, when she resigned.<ref name=NatashaBio>{{cite news|last1=O'Brien|first1=Timothy L.|last2=Bonner|first2=Raymond|author1-link=Timothy L. O'Brien|author2-link=Raymond Bonner|url=https://archive.nytimes.com/www.nytimes.com/library/world/global/082399russia-bank-launder.html|title=Money Laundering Inquiry Uncovers a Woman's Meteoric Rise|work=The New York Times |date=August 23, 1999|access-date=April 13, 2021}}</ref><ref name=Kommersant>{{cite news|last1=Butrin|first1= Dmitry|last2=Kvasha|first2= Maxim|last3=Pleshanova|first3= Olga|last4=Razumova|first4= Maria|last5=Asker-Zade|first5= Nailya|url=http://www.kommersant.ru/doc.html?docId=766368|script-title=ru:Дела давно минувших рублей: Против Bank of New York подан иск на $22,5 млрд|trans-title=Cases of long past rubles: Bank of New York filed a $22.5 billion lawsuit|work=Kommersant|date=May 18, 2007|access-date=April 13, 2021|archive-date=May 20, 2007|archive-url=https://web.archive.org/web/20070520052814/http://www.kommersant.ru/doc.html?docId=766368|quote=Возобновление расследования о махинациях 90-х}}</ref><ref name=TopSecret>{{cite news |last=Sedykh|first= Igor |url=http://www.compromat.ru/page_12100.htm |title=Предыстория операции "Паутина": Большая стирка. По новым следам русской мафии |trans-title=Background to Operation Cobweb: Big Wash. Following the new tracks of the Russian mafia |language=ru |work=«Совершенно секретно» (Top Secret) |location=Geneva |date=August 1, 2002 |access-date=April 13, 2021}}</ref><ref name=Sovsektretno>{{cite news |last1=Kislinskaya|first1= Larisa |last2=Sedykh|first2= Igor |url=https://www.sovsekretno.ru/articles/bolshaya-stirka/ |title=Большая стирка |trans-title=Big Washing |language=ru |work=«Совершенно секретно» (Sovsektretno) |date=August 1, 2002 |access-date=April 13, 2021 |archive-date=September 20, 2022 |archive-url=https://web.archive.org/web/20220920174300/https://www.sovsekretno.ru/articles/bolshaya-stirka/}}</ref><ref name=Versiya>{{cite news |last=Lurie|first=Oleg |author-link=:ru:Лурье, Олег Анатольевич |url=http://www.compromat.ru/page_11510.htm |title=Прачечная на обороте больничного меню: Темный лес. В "сухом остатке" — миллионы отмытых долларов |trans-title=Laundry on the back of the hospital menu: Dark forest. The bottom line is millions of laundered dollars |language=ru |work=«Версия» |date=February 5, 2002 |access-date=April 13, 2021}}</ref>{{efn|Allegedly, Semion Mogilevich instructed Natasha Kagalovsky (née Gurfinkel) to wire transfer Cali cartel funds from Bank of New York accounts though Brazilian banks to offshore shell companies.<ref name=KochanRussianMafia>{{cite book |last=Kochan |first=Nick |author-link=Nick Kochan |url=https://docplayer.net/30950188-Chapter-1-the-russian-mafia.html |title=The Washing Machine: How Money Laundering and Terrorist Financing Soils Us |chapter=Chapter 1 Russian Mafia |publisher=Cengage Learning |location=Mason, Ohio |date=2005 |isbn=9781587991592}}</ref>}}}}
From 1993 to 1998, the bank made 33 acquisitions, including acquiring JP Morgan's Global Custody Business in 1995.<ref name=RefBiz/> Ivy Asset Management was acquired in 2000.
In the 1990s, {{ill|Vladimir Kirillovich Golitsyn|ru|Голицын, Владимир Кириллович}} or "Mickey" Galitzine{{efn|{{ill|Vladimir Kirillovich Golitsyn|ru|Голицын, Владимир Кириллович}} or "Mickey" Galitzine ({{langx|ru|Владимир Кириллович Голицын}}; 1942-2018, born Belgrade) with the pseudonym ''Vladimirov'', whose father was a director of the Tolstoy Foundation. In 1960, he joined the Bank of New York and worked as an accountant in its International Department but later headed the Russia team as a vice president of the bank. His wife Tatiana Vladimirovna Kazimirova ({{langx|ru|Татьяна Владимировна Казимирова}}; b. 1943, Berlin), an employee at the Bank of New York whom he married in 1963, worked very closely with him. He traveled for his first time to Russia in 1990. He worked closely with banks in Greece, Malta, and Italy and was an expert in cotton, gold, silver, and other raw materials financing.<ref name=NatashaBio/><ref name=Versiya/>}} established and headed the Eastern European Department at the Bank of New York until 1992 and hired many Russians. He mentored many new bankers in Hungary, the former East Germany, Poland, Romania, and Bulgaria and travelled extensively to capital cities in the former Soviet Union or the CIS to assist new bankers especially in Russia to where he travelled for his first time in 1990, Ukraine, Latvia, Georgia, Armenia, Turkmenistan, and Kazakhstan.<ref name=NatashaBio/><ref name=Versiya/><ref>{{cite web |url=https://russiannobility.org/rna-presidents/ |title=RNA presidents |work=Russian Nobility Association in America (RNA) |date= September 14, 2017|access-date=April 9, 2021 |quote=See the section "Prince Vladimir Kirillovich Galitzine (2017–2018)".}}</ref><ref>{{cite news |url=https://www.newsru.co.il/world/23feb2018/galitsyn_107.html |title=В США умер князь Владимир Голицын, президент дворянского собрания |trans-title=In the USA died Prince Vladimir Golitsyn, President of the Noble Assembly |language=ru |work=NEWSru.co.il |date=February 23, 2018 |access-date=April 9, 2021 |archive-date=March 5, 2018 |archive-url=https://web.archive.org/web/20180305063827/https://www.newsru.co.il/world/23feb2018/galitsyn_107.html}}</ref><ref>{{cite news |last=Sazhneva|first= Ekaterina |url=https://www.mk.ru/politics/2018/02/23/traur-rossiyskogo-dvoryanstva-chem-byl-slaven-pokoynyy-knyaz-golicyn.html |title=Траур российского дворянства: чем был славен покойный князь Голицын "Он был одним из самых почитаемых людей в среде русской эмиграции" |trans-title=Mourning of the Russian nobility: what the late prince Golitsyn was famous for "He was one of the most revered people among the Russian emigration" |language=ru |work=Moskovskij Komsomolets |date=February 23, 2018 |access-date=April 9, 2021}}</ref> Bank of New York had correspondent accounts for several Russian banks including Inkombank ({{langx|ru|Инкомбанк}}), Menatep ({{langx|ru|«Менатеп»}}), Tokobank ({{langx|ru|Токобанк}}), Tveruniversalbank ({{langx|ru|Тверьуниверсалбанк}}), Alfa-Bank ({{langx|ru|Альфа-банк}}), {{ill|Sobinbank|ru|Собинбанк}} ({{langx|ru|Собинбанк}}), Moscow International Bank ({{langx|ru|Московский международный банк}}) and others.<ref name=Laundry>{{cite news |last=Lurie|first= Oleg |author-link=:ru:Лурье, Олег Анатольевич |url=http://www.compromat.ru/page_11510.htm |title=Прачечная на обороте больничного меню: Темный лес. В "сухом остатке" — миллионы отмытых долларов |trans-title=Laundry on the back of the hospital menu: Dark forest. The bottom line is millions of laundered dollars |language=ru |work=«Версия» |date=February 5, 2002 |access-date=December 21, 2020}}{{Circular reference|date=August 2022}}</ref><ref>{{cite news |last1=Berezanskaya|first1= Elena |last2=Evstigneeva|first2= Elena |last3=Kozyrev|first3= Mikhail |url=http://www.vedomosti.ru/stories/2001/05/15-01-05.html |title=Все, что нажито непосильным трудом. Как делили промышленный холдинг Инкомбанка. "Ведомости" провели расследование вывода промышленных активов из Инкомбанка после августовского кризиса 1998 г. Вот его результаты (см. также стр. А1). Банк - отдельно, заводы - отдельно |trans-title=Everything that is acquired by back-breaking labor How the industrial holding of Inkombank was divided "Vedomosti" conducted an investigation into the withdrawal of industrial assets from Inkombank after the August 1998 crisis. Here are the results (see also p. A1). Bank - separately, factories - separately |language=ru |work=Vedomosti |date=May 15, 1999 |access-date=December 21, 2020 }}{{dead link|date=July 2021|bot=medic}}{{cbignore|bot=medic}} [http://www.compromat.ru/page_10782.htm Alt URL]</ref>{{efn|On October 26, 1999, Bank of New York gained BankBoston Panama as its subcustodian bank in Panama. Beginning in 1996, the 1973 established BankBoston Panama provided custody services to non-resident investors in Panama.<ref>{{cite news |url=http://www.bankofny.com/pressrel/bbp102699.htm |title=The Bank of New York Appoints BankBoston Panama as its Subcustodian in Panama, Expanding Network To 90 Countries |work=Bank of New York website |date=October 26, 1999 |access-date=August 6, 2021 |archive-date=August 17, 2000 |archive-url=https://web.archive.org/web/20000817053946/http://www.bankofny.com/pressrel/bbp102699.htm}}</ref> On December 17, 2004, Bank of America sold its BankBoston (BKB) operations in Peru, Colombia, and Panama to the 1955 established Panamanian private equity bank ''{{ill|Banco General|es|Banco General (Panamá)}}''.<ref>{{cite news |url=https://www.bnamericas.com/en/news/BofA_offloading_BKB_ops_in_Panama,_Colombia,_Peru |title=BofA offloading BKB ops in Panama, Colombia, Peru |work=BNAmericas website |date=December 17, 2004 |access-date=August 6, 2021}}</ref>{{efn|{{ill|Banco General|es|Banco General (Panamá)}} maintains offices in Costa Rica, has representative offices in Mexico, Guatemala, El Salvador, Colombia and Peru and has correspondent banking with Dresdner Bank Lateinamerika AG in Panama and was closely associated with Vladimir Putin's close friend Matthias Warnig at its Saint Petersburg branch, Banco Latinoamericano de Exportaciones SA (BLADEX) in Panama, Bank of Nova Scotia in Panama, Chase Manhattan Bank, Bank of New York, Citibank, Colonial Bank in Miami, First Union Bank in Miami, SunTrust Bank in Miami, Bank of America in Miami, Barclays Bank PLC in Miami, Banco General (Overseas) in the Cayman Islands, HSBC Bank USA in New York, HSBC Bank PLC in Panama, and others.<ref>{{cite web |url=https://www.bgeneral.com/informacion-corporativa/ |title=Información Corporativa |trans-title=Corporate Information |language=es |work=Banco General (bgeneral.com) |access-date=August 6, 2021 |archive-date=August 7, 2021 |archive-url=https://web.archive.org/web/20210807005858/https://www.bgeneral.com/informacion-corporativa/}}{{Circular reference|date=August 2022}}</ref><ref>{{cite web |url=http://www.bgeneral.com/bgespanol/acerca/organigrama.htm |title=Organigrama |trans-title=Organizational chart |language=es |work=Banco General (bgeneral.com) |access-date=August 6, 2021 |archive-date=February 13, 2005 |archive-url=https://web.archive.org/web/20050213105811/http://www.bgeneral.com/bgespanol/acerca/organigrama.htm}}{{Circular reference|date=August 2022}}</ref><ref>{{cite web |url=http://www.bgeneral.com/bgespanol/acerca/Corresponsales.htm |title=Corresponsales |trans-title=Correspondent |language=es |work=Banco General (bgeneral.com) |access-date=August 6, 2021 |archive-date=February 13, 2005 |archive-url=https://web.archive.org/web/20050213070438/http://www.bgeneral.com/bgespanol/acerca/Corresponsales.htm}}{{Circular reference|date=August 2022}}</ref><ref>{{cite web |url=https://offshoreleaks.icij.org/nodes/12208689 |title=BankBoston Building |work=ICIJ |date=2015 |access-date=August 6, 2021}}</ref>}}}}
In October 2002, Bank of New York entered into an alliance with ING to gain a stronger footing in Eastern European markets.<ref>{{cite news |last=Greensted |first=Richard |url=https://www.fnlondon.com/amp/articles/bank-of-new-york-expands-alliance-20021028 |title=Bank of New York expands alliance: The ING deal will give US operator a significant presence in important continental markets |work=Financial News |date=October 28, 2002 |access-date=August 9, 2023}}</ref>
In 2003, Bank of New York acquired Pershing LLC, the stock clearing unit of Credit Suisse First Boston for $2 billion.<ref name=RefBiz/><ref name=TheStreet03>{{cite news |title=Bank of New York Acquires CSFB's Pershing For $2 Billion |url=http://www.thestreet.com/story/10061592/1/bank-of-new-york-acquires-csfbs-pershing-for-2-billion.html |work=TheStreet.com |date=January 8, 2003 |access-date=January 14, 2015}}</ref> The Pershing acquisition made BNY the nation's largest clearing firm for stock trades.<ref>{{cite news |last1=Sorkin |first1=Andrew Ross |title=Bank of New York to Acquire Credit Suisse Unit for $2 Billion |url=https://www.nytimes.com/2003/01/08/business/bank-of-new-york-to-acquire-credit-suisse-unit-for-2-billion.html |access-date=25 November 2023 |work=The New York Times |date=8 January 2003}}</ref> EMAT and the wealth management firm Lockwood Financial Partners, which was originally formed as Lockwood Advisors in 1995 and was based in Malvern, Pennsylvania, specialised in providing independent financial investment advisory services to brokers of high-net-worth individuals; it went on to become one of the largest independent advisory companies in the United States before both firms were sold to the Bank of New York in 2002, while Gerald L Hassell was president of Bank of New York. Lockwood and Pershing LLC were folded into the BNY Securities Group under the Pershing umbrella in October 2003, with Joseph M. Velli heading the BNY Securities Group. It allowed Bank of New York to compete against U.S. Trust, J.P. Morgan Chase, as well as those more brokerage-oriented organizations for private banking clients.<ref name=FAmag/><ref name=WealthManagementCom/><ref>{{cite news |url=https://www.globalcustodian.com/bny-integrates-lockwood-financial-and-pershing/ |title=BNY Integrates Lockwood Financial and Pershing: The Bank of New York (BoNY) has announced its plan to integrate Lockwood Financial Services, Inc. into Pershing, creating one of the largest providers of managed account programs with client assets totaling nearly $18 billion. Pershing, which was acquired by BoNY |work=www.globalcustodian.com |date=22 October 2003 |access-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516190441/https://www.globalcustodian.com/bny-integrates-lockwood-financial-and-pershing/ |archive-date=16 May 2024}}</ref>{{efn|In 1996, in conjunction with his brother-in-law Petros Goulandris, Tony O'Reilly along with CEO Leonard Reinhart backed a management team that created Lockwood Financial Partners, which was named after friend Jim Lockwood who was a colleague and fee-based pioneer, and its sister company E-MAT (EMAT) which was founded by Leonard Reinhart and Jay N. Whipple to provide the first common operating program for separately managed accounts (SMAs).<ref>{{cite news |url=https://www.rte.ie/news/business/2002/0802/28385-oreilly-business/ |title=O'Reilly in major US banking deal |work=RTÉ (www.rte.ie) |date=26 January 2007 |access-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516193410/https://www.rte.ie/news/business/2002/0802/28385-oreilly-business/ |archive-date=16 May 2024}}</ref><ref name=FAmag>{{cite news |last1=Leblanc |first1=Sydney |last2=Brounes |first2=Ron |url=https://www.fa-mag.com/news/embracing-the-future-1518.html |title=Embracing The Future: Pershing and Lockwood get the thumbs-up for their vision, a smooth transition and high client satisfaction. |work=Financial Advisor (www.fa-mag.com) |date=1 November 2006 |access-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516190810/https://www.fa-mag.com/news/embracing-the-future-1518.html |archive-date=16 May 2024}}</ref><ref name=WealthManagementCom>{{cite news |last=Tucker |first=Ross |url=https://www.wealthmanagement.com/archive/lockwood-gets-its-shot-big-leagues |title=Lockwood Gets Its Shot at the Big Leagues: While it didn't create much buzz when it happened in early August, the purchase of Lockwood Financial Advisors, the leading independent managed money platform, by The Bank of New York, could be a big deal for brokers and advisors. At a minimum, it points to even more intense competition for high-net-worth clients, and perhaps a greater challenge to wirehouse reps for this business. It also demonstrates |work=www.wealthmanagement.com |date=1 September 2002 |access-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516190608/https://www.wealthmanagement.com/archive/lockwood-gets-its-shot-big-leagues |archive-date=16 May 2024}}</ref><ref>{{cite news |last=Aughney |first=Jim |url=https://www.independent.ie/business/irish/lockwood-sold-by-oreilly-to-ny-bank/26036676.html |title=Lockwood sold by O'Reilly to NY bank |work=Irish Independent |date=2 August 2002 |access-date=16 May 2024 |archive-url=https://web.archive.org/web/20240516190815/https://www.independent.ie/business/irish/lockwood-sold-by-oreilly-to-ny-bank/26036676.html |archive-date=16 May 2024}}</ref> Prior to the acquisition of Lockwood and EMAT by BoNY, RBC Dominion Securities was the two firms primary institutional advisory account.<ref name=FAmag/> At the time, assets under management were estimated to be in excess of $11 billion.}}
In 2005, the bank paid a $14 million settlement to the Russian government concerning the money laundering activities of a rogue employee in the 1990s.<ref>{{cite news |last1=Kramer |first1=Andrew |title=Bank of New York Settles a Protracted Russian Lawsuit|url=https://www.nytimes.com/2009/09/17/business/global/17bony.html |access-date=25 November 2023 |work=The New York Times |date=16 September 2009}}</ref><ref>{{cite news |last1=White |first1=Gregory L. |title=Russia, BNY Mellon End $22.7 Billion Suit |url=https://www.wsj.com/articles/SB125619950075000879 |access-date=25 November 2023 |work=The Wall Street Journal |date=23 October 2009}}</ref> This scandal has sometimes been called Russiagate.<ref>{{Cite journal |last=van Fossen |first=Anthony B |date=2003 |title=Money Laundering, Global Financial Instability, and Tax Havens in the Pacific Islands |url=https://www.jstor.org/stable/23721857 |journal=The Contemporary Pacific |volume=15 |issue=2 |pages=237–275 |jstor=23721857 |issn=1043-898X}}</ref>{{efn|In 2005, the bank settled a US federal investigation that began in 1996 concerning money laundering related to post-Soviet privatization in Russia. The illegal operation involved two Russian emigres, Peter Berlin and his wife Lyudmila "Lucy" (née Pritzker) Edwards who was a Vice President of the bank and worked at its London office, moving over US$7 billion via hundreds of wires.<ref name=TopSecret/><ref name=Versiya/><ref>{{cite news |url=http://money.cnn.com/1999/08/24/europe/russian_cash/ |title=Russian mob probe widens. Report: European banks, IMF drawn into Russian money laundering investigation |work=CNN |date=August 24, 1999 |access-date=April 15, 2021 |archive-date=December 8, 2001 |archive-url=https://web.archive.org/web/20011208143830/http://money.cnn.com/1999/08/24/europe/russian_cash/}}</ref><ref>{{cite news |title=Russian moles at banks? |work=CNN |date=September 2, 1999 |url=https://money.cnn.com/1999/09/02/companies/moles/ |access-date=April 15, 2021|archive-date=December 7, 2001|archive-url=https://web.archive.org/web/20011207034340/https://money.cnn.com/1999/09/02/companies/moles/}}</ref><ref>{{cite news|last1=O'Brien|first1=Timothy L.|last2=Bonner|first2=Raymond |title=Banker and Husband Tell Of Role in Laundering Case |url=https://www.nytimes.com/2000/02/17/world/banker-and-husband-tell-of-role-in-laundering-case.html|work=The New York Times|date=February 17, 2000|issn=0362-4331|url-access=limited|archive-date=December 12, 2020|archive-url=https://web.archive.org/web/20201212210538/https://www.nytimes.com/2000/02/17/world/banker-and-husband-tell-of-role-in-laundering-case.html?pagewanted=all&src=pm}}</ref><ref>{{cite news|last1=O'Brien|first1=Timothy L.|title=Bank Settles U.S. Inquiry Into Money Laundering |url=https://www.nytimes.com/2005/11/09/business/bank-settles-us-inquiry-into-money-laundering.html|work=The New York Times|date=November 9, 2005 |issn=0362-4331|url-access=subscription|archive-date=July 9, 2017|archive-url=https://web.archive.org/web/20170709101519/http://www.nytimes.com/2005/11/09/business/bank-settles-us-inquiry-into-money-laundering.html |access-date=September 15, 2017|url-status=live}}</ref><ref>{{cite news|last1=O'Brien|first1=Timothy L.|last2=Bonner|first2=Raymond |url=https://archive.nytimes.com/www.nytimes.com/library/world/global/082399russia-bank-launder.html|title=Money Laundering Inquiry Uncovers a Woman's Meteoric Rise|work=The New York Times |date=August 23, 1999|access-date=December 12, 2020}}</ref> Through accounts created by Peter Berlin for Alexei Volkov's Torfinex Corporation, Bees Lowland, which was an offshore shell company created by Peter Berlin, and Benex International Company Inc, numerous irregular wire transfers occurred at the Bank of New York.<ref name=Versiya/> In October 1997 at Bologna, Joseph Roisis, also spelled Yosif Aronovizh Roizis and nicknamed ''Cannibal'' as a member of Russian mafia's Solntsevskaya Bratva with businesses in Czechoslovakia, explained to Italian prosecutors that 90% of the money flowing through Benex accounts at the Bank of New York is Russian mafia money.<ref name=TopSecret/><ref name=KochanRussianMafia/>{{efn|Joseph Roizis also spelled Roitsis ({{langx|ru|Ройцис}}; b. late 1940s, Soviet Union), who was also known as Aron, Gregory, Grisha, or "Ogre", immigrated to the United States with his wife and two children two years after fighting for Israel in the Yom Kippur War and operated a furniture store in Brighton Beach as a front for trafficking heroin from Romania where he purchased furniture for his store. Marat Balagula ({{langx|ru|Марат Балагул}}) assisted him with obtaining heroin from Thailand via Poland. Roitsis gave Leonid "Tarzan" Fainberg or Feinberg ({{langx|ru|Леонид «Тарзан» Файнберг}}; b. Ukraine), who was also known as Ludwid "Tarzan" Fainberg and was trained as a dentist but left the Soviet Union for Israel where he obtained an Israeli passport and immigrated to the United States in the 1980s via Germany, a job at his furniture store in Brighton Beach, Brooklyn, New York City.<ref>[https://archive.today/20030123142834/http://satcor.ru/publications/2002/12/p_10_12_2002.html ГЛОБАЛИЗАЦИЯ РОССИЙСКОЙ ОРГАНИЗОВАННОЙ ПРЕСТУПНОСТИ]</ref>}} Alexei Volkov was charged in the United States but fled to Russia which has no extradition treaty with the United States and later the charges were dropped.<ref name=Kommersant/> Svetlana Kudryavtsev, a Bank of New York employee that was responsible for the proper operation of the Benex accounts in New York which had ties to Semion Mogilevich and through which passed $4.2 billion from October 1998 to March 1999, refused to cooperate and resigned during an internal audit of the matter but was later indicted by the FBI for her role in which she received $500 a month from Edwards for her services.<ref>{{cite news|last=Bonner|first=Raymond|date=September 3, 1999 |url=https://archive.nytimes.com/www.nytimes.com/library/world/global/090399russia-launder.html|title=Bank of New York Dismisses Second Employee in Laundering Case|work=The New York Times |access-date=December 12, 2020}}</ref><ref>{{cite news|last=Fernandez |first=Rodrigo|date=September 3, 1999 |url=https://elpais.com/diario/1999/09/04/internacional/936396013_850215.html|title=El alcalde de Moscú exige a Yeltsin explicaciones sobre los escándalos económicos que se le atribuyen|trans-title=Moscow mayor demands Yeltsin explanations of economic scandals attributed to him |language=es|work=El País |access-date=December 12, 2020}}</ref><ref>{{cite news |last1=O'Brien|first1=Timothy L.|last2=Bonner|first2=Raymond |url=https://archive.nytimes.com/www.nytimes.com/library/world/global/081999russians-launder.html|title=Activity at Bank Raises Suspicions of Russian Mob Tie|work=The New York Times|date=August 19, 1999|access-date=December 12, 2020}}</ref>{{efn|Until his death in July 2020, William Sessions was the American attorney of Semion Mogilevich, who is the "boss of bosses" of the Russian mafia, has close ties with Vladimir Putin, and is a member of the FBI Most Wanted Fugitives list.{{sfn|Unger|2018|p=218}}<ref>{{cite news |last=Heffernan |first=Virginia |author-link=Virginia Heffernan |url=https://www.latimes.com/opinion/op-ed/la-oe-heffernan-simpson-russia-testimony-20180114-story.html |title=Column: A close reading of Glenn Simpson's Trump-Russia testimony |work=Los Angeles Times |date=January 14, 2018 |access-date=January 25, 2021}}</ref><ref>{{Cite news|last1=Simpson|first1=Glenn R. |last2=Jacoby|first2=Mary|date=April 17, 2007 |title=How Lobbyists Help Ex-Soviets Woo Washington|work=The Wall Street Journal |url=https://www.wsj.com/articles/SB117674837248471543|archive-url=https://archive.today/20170709042737/https://www.wsj.com/articles/SB117674837248471543|archive-date=July 9, 2017|issn=0099-9660 |access-date=November 18, 2021}}</ref>}} Alexander Mamut's Sobinbank, which since August 2010 is a subsidiary of Rossiya Bank, was raided on October 10, 1999, in support of United States investigations into money laundering at the Bank of New York.<ref>{{cite news |last1=Bohlen |first1=Celestine |last2=Banerjee|first2=Neela|url=https://archive.nytimes.com/www.nytimes.com/library/world/global/101399russia-launder.html |title=Little-Known Power Broker Emerges in Kremlin Scandals |work=The New York Times|date=October 13, 1999|access-date=December 12, 2020}}</ref> The Vanuatu registered Sobinbank Limited facilitated transfers between December 1997 and February 1999 for Benex accounts.<ref>{{cite news |url=http://kompromat.flb.ru/material.phtml?id=1143 |title=Дело BONY. Результаты вскрытия |trans-title=The BONY case. Autopsy results |language=ru |work=Время новостей |date=October 16, 2000 |access-date=August 24, 2021 |archive-date=November 24, 2020 |archive-url=https://web.archive.org/web/20201124203923/http://kompromat.flb.ru/material.phtml?id=1143}}</ref> Edmond Safra of the bank Republic New York, which is a longtime rival of the Bank of New York, alerted the FBI to the money laundering scheme which also involved Russian banks including Sobinbank and the Depozitarno-Kliringovy Bank (DKB) or the Russian Deposit Clearinghouse Bank ({{langx|ru|российский «Депозитарно-клиринговый банк» («ДКБ»)}}) which was created by Peter Berlin and had the same address as the Bees Lowland offshore shell company.<ref name=TopSecret/><ref name=Sovsektretno/><ref name=KleptocracyReview>{{cite news|last=Scaruffi|first=Piero |url=https://www.scaruffi.com/politics/dawisha.html|title=Book Review of Karen Dawisha: "Putin's Kleptocracy" (2014)|work=scaruffi.com|date=2020 |access-date=December 12, 2020}}</ref> $3 billion went from both Russian DKB and Sobinbank accounts through the Igor and Oleg Berezovsky owned Italian firm ''Prima'' based in Rimini and, through Andrei Marisov at the Grigory Luchansky associated French firm ''Kama Trade'' which had accounts with the Société bancaire arabe (SBA) to accounts at the Peter Berlin created Sinex Bank in Nauru.<ref name=TopSecret/><ref name=Sovsektretno/><ref name=KochanBoNYGate>{{cite book |last=Kochan |first=Nick |author-link=Nick Kochan |url=http://docplayer.net/14744175-The-bank-of-new-york.html |title=The Washing Machine: How Money Laundering and Terrorist Financing Soils Us |chapter=Chapter 2 BoNYGate |publisher=Cengage Learning |location=Mason, Ohio |date=2005 |isbn=9781587991592}}</ref>{{efn|On January 10, 2006, the Lebanese bank ''Banque Libano-Française S.A.L.'', which has its headquarters in Beirut, gained a majority stake of 78.3% in the 1978 founded Société bancaire arabe (SBA) with the Claude Bébéar associated AXA subsidiary ''Compagnie Financière de Paris'' having a stake of 20%. Compagnie Financière de Paris held a 34% stake with thirty other shareholders before 2006. Later, Banque Libano-Française S.A.L. increased its stake to 99%. SBA has its headquarters in Paris at 28 rue de Berri (8ème), maintains a branch in Limassol, Cyprus, and has 100% ownership of the Geneva based Financière SBA (Suisse).<ref>{{cite news |url=https://www.eblf.com/english/news/banque-libano-franaise-s-a-l--expands-in-europe |title=Banque Libano-Française S.A.L. expands in Europe |work=Banque Libano-Française website |date=January 1, 2006 |access-date=April 14, 2021}}</ref><ref>{{cite web |url=https://www.banque-sba.com/SBA-en/About-Banque-SBA-Historical-presentation |title=Banque SBA: History |work=Banque SBA website |access-date=April 14, 2021}}</ref> SBA's focus is Syria with some operations in Lebanon. SBA's Geneva affiliate Societe Bancaire Arabe (Suisse) incurred heavy loses in the early 1990s and was converted to a finance company according to Mustafa Janoudi who was SBA's chairman general manager from the 1990s until 2006 when he became Vice Chairman and General Manager Délégué and Bernard Vernhes became chairman general manager. Bernard Vernhes was previously at the Banque Française de l'Orient (BFO) in Paris as chairman general manager and later at Banque Libano-Française SAL as general manager.<ref name=MEED>{{cite news |url=https://www.meed.com/europeans-build-stake-as-syria-specialist-sba-makes-capital-increase/ |title=Europeans build stake as Syria specialist SBA makes capital increase |work=MEED Middle East Business Intelligence |date=November 4, 1994 |access-date=April 14, 2021 |archive-date=April 15, 2021 |url-status=live |archive-url=https://web.archive.org/web/20210415033649/https://www.meed.com/europeans-build-stake-as-syria-specialist-sba-makes-capital-increase/}}</ref>}}{{efn|Saeb Shafiq Nahas also spelled ''Nahhas'' (b. 1936, al-Jura neighborhood, Damascus) held a 12% stake in Société bancaire arabe (SBA) until May 14, 1993 when he sold it to private investors. Nahas is very close to the Assad family especially Rifaat al-Assad who is a brother of Hafez al-Assad. Beginning in 1966, Nahas has assisted in arms sales to Iran and especially Hezbollah. His farm along the Damascus International Road is used by the Iranian Revolutionary Guard to train militias that Nahas also hosts at his al-Safir Hotel in Sayyidah Zainab neighborhood of Damascus. He is very wealthy. His close relationship with Bashar al-Assad led to numerous of Nahas's investments in Kazakhstan, Mexico, United Arab Emirates, Lebanon, Jordan, and Sudan. In 2015, the Central Bank of Syria froze his funds because of Nahas's failure to repay a loan which led to Nahas fleeing to Lebanon where he firmly supported the Syrian regime, so later his funds were unfrozen. His two sons Hadi and Muhammad remained in Syria to manage the Nahas family's assets in Syria.<ref name=MEED/><ref>{{cite news |url=https://syrianobserver.com/who/33693/whos_who_saeb_nahas.html |title=Who's who: Saeb Nahas |work=Syrian Observer |date=January 21, 2014 |access-date=April 14, 2021}}</ref><ref>{{cite news |url=https://syrianobserver.com/news/60962/regime-unfreezes-saeb-nahas-funds-after-iranian-pressure.html |title=Regime Unfreezes Saeb Nahas' Funds After Iranian Pressure |work=Syrian Observer |date=October 5, 2020 |access-date=April 14, 2021}}</ref><ref>{{cite web |url=https://pro-justice.org/wp-content/uploads/2020/08/Businessmen-en-ebook-1_9069.pdf |archive-url=https://web.archive.org/web/20200923124532/https://pro-justice.org/wp-content/uploads/2020/08/Businessmen-en-ebook-1_9069.pdf |url-status=dead |archive-date=September 23, 2020 |title=Funding War Crimes: Syrian Businessmen Who Kept Assad Going |work=Pro Justice |pages=157–262 |date=2020 |access-date=April 14, 2021}}</ref>}}}}
In 2006, the Bank of New York traded its retail banking and regional middle-market businesses for J.P. Morgan Chase's corporate trust assets. The deal signaled the bank's exit from retail banking.<ref name=ODonnell06>{{cite news |title=Bank of NY and J.P. Morgan swap assets |first=Kathie |last=O'Donnell |url=http://www.marketwatch.com/story/bank-of-ny-to-exit-retail-banking-via-morgan-asset-swap |work=MarketWatch |date=April 10, 2006 |access-date=January 22, 2015}}</ref>
===Mellon Financial=== {{Main|Mellon Financial}}
200px|left|thumb|Andrew W. Mellon Mellon Financial was founded as T. Mellon & Sons' Bank in Pittsburgh, Pennsylvania, in 1869 by retired judge Thomas Mellon and his sons Andrew W. Mellon and Richard B. Mellon.<ref name=NYJob>{{cite web |url=http://nyjobsource.com/mellon.html |title=Mellon Financial Profile |publisher=The New York Job Source |access-date=January 14, 2015 |archive-date=November 6, 2018 |archive-url=https://web.archive.org/web/20181106190616/http://nyjobsource.com/mellon.html |url-status=dead }}</ref> The bank invested in and helped found numerous industrial firms in the late 1800s and early 1900s including Alcoa, Westinghouse, Gulf Oil, General Motors and Bethlehem Steel.<ref name=RefForBiz/><ref name=Brown14/> Both Gulf Oil and Alcoa are, according to the financial media, considered to be T. Mellon & Sons' most successful financial investments.<ref name=RefForBiz/><ref name=Brown14>{{cite news |title=175 Years Later, The Mellons Have Never Been Richer. How'd They Do It? |first=Abram |last=Brown |url=https://www.forbes.com/sites/abrambrown/2014/07/08/175-years-later-the-mellons-have-never-been-richer-howd-they-do-it/2/ |work=Forbes |date=July 8, 2014 |access-date=January 22, 2015}}</ref>
In 1902, T. Mellon & Sons' name was changed to the Mellon National Bank.<ref name=RefForBiz>{{cite web |url=http://www.referenceforbusiness.com/history2/46/Mellon-Financial-Corporation.html#ixzz3PbRYm8H8 |title=Mellon Financial Corporation — Company Profile on Mellon Financial Corporation |work=referenceforbusiness.com |publisher=Reference for Business |access-date=January 22, 2015}}</ref> In 1946, the firm merged with the Union Trust Company, a business founded by Andrew Mellon in 1899, and other affiliated financial firms. The newly formed organization was named the Mellon National Bank and Trust Company, and was Pittsburgh's first US$1 billion bank.<ref name=Time46>{{cite magazine |title=The Mellons Go to Work Again |magazine=Time |date=February 7, 1946 |url= http://www.time.com/time/magazine/article/0,9171,888273,00.html |access-date=January 22, 2015 |archive-date=July 31, 2009 |archive-url=https://web.archive.org/web/20090731232530/http://www.time.com/time/magazine/article/0,9171,888273,00.html}}</ref>
The bank formed the first dedicated family office in the United States in 1971.<ref name=Ashworth2015>{{cite news |title=The light shines brightly on the family office |first=Will |last=Ashworth |url=http://www.wealthprofessional.ca/news/the-light-shines-brightly-on-the-family-office-186999.aspx |work=Wealth Professional |date=January 8, 2015 |access-date=January 22, 2015}}</ref> A reorganization in 1972 led to the bank's name changing to Mellon Bank, N.A. and the formation of a holding company, Mellon National Corporation.<ref name=NYJob/><ref name=RefForBiz/>
Mellon Bank acquired multiple banks and financial institutions in Pennsylvania during the 1980s and 1990s.<ref>{{cite web | title=Mellon Financial Corporation - American bank | website=Encyclopædia Britannica | date=February 3, 2015 | url=https://www.britannica.com/topic/Mellon-Financial-Corporation | access-date=September 22, 2015 |quote = In 1982 Mellon acquired the Girard Company, a major Philadelphia bank holding company, and in 1985 it merged with Commonwealth National Financial Corporation, a financial-services company based in Harrisburg, Pennsylvania. The Mellon Bank acquired the investment and money-management firm Boston Company, Inc., in 1993 and bought the Dreyfus Corporation, a large manager of mutual funds, in 1994}}</ref> In 1992, Mellon acquired 54 branch offices of Philadelphia Savings Fund Society, the first savings bank in the United States, founded in 1819.<ref name=Quint1989>{{cite news |title=Mellon Bank to Buy 54 of Meritor's Units |first=Michael |last=Quint |url=https://www.nytimes.com/1989/12/06/business/mellon-bank-to-buy-54-of-meritor-s-units.html |work=The New York Times |date=December 6, 1989 |access-date=January 22, 2015|issn=0362-4331|url-access=limited}}</ref>
In 1993, Mellon acquired The Boston Company from American Express and AFCO Credit Corporation from The Continental Corporation. The following year, Mellon merged with the Dreyfus Corporation, bringing its mutual funds under its umbrella.<ref name=RefForBiz/> In 1999, Mellon Bank Corporation became Mellon Financial Corporation. Two years later, it exited the retail banking business by selling its assets and retail bank branches to Citizens Financial Group.<ref name=RefForBiz/>
===Merger=== On December 4, 2006, the Bank of New York and Mellon Financial Corporation announced they would merge.<ref name=Vries06>{{cite news |title=Bank Of New York To Merge With Mellon |first=Lloyd |last=Vries |url=http://www.cbsnews.com/news/bank-of-new-york-to-merge-with-mellon/ |work=CBS News |date=December 4, 2006 |access-date=January 22, 2015}}</ref> The merger created the world's largest securities servicing company and one of the largest asset management firms by combining Mellon's wealth-management business and the Bank of New York's asset-servicing and short-term-lending specialties.<ref name=Teather06/><ref name=Vries06/> The companies anticipated saving about $700 million in costs and cutting around 3,900 jobs, mostly by attrition.<ref name=Teather06/>
The deal was valued at $16.5 billion and under its terms, the Bank of New York's shareholders received 0.9434 shares in the new company for each share of the Bank of New York that they owned, while Mellon Financial shareholders received 1 share in the new company for each Mellon share they owned.<ref name=Cox06/> The Bank of New York and Mellon Financial entered into mutual stock option agreements for 19.9 percent of the issuer's outstanding common stock.<ref name=Vries06/> The merger was finalized on July 1, 2007.<ref name=Tascarella07/> The company's principal office of business was located at the One Wall Street office previously held by the Bank of New York.<ref name=Fitzpatrick07/> The full name of the company became The Bank of New York Mellon Corp., with the '''BNY Mellon''' brand name being used for most lines of business.<ref name=Fitzpatrick07>{{cite news |title=Mellon Merger OK'D, HQ On Way Out |first=Dan |last=Fitzpatrick |url= http://www.post-gazette.com/business/businessnews/2007/05/24/Mellon-merger-OK-d-HQ-on-way-out-to-NYC/stories/200705240380|work=Pittsburgh Post-Gazette |date=May 25, 2007 }}</ref><ref name=Tascarella07>{{cite news |title=Bank of New York, Mellon complete merger |first=Patty |last=Tascarella |url=http://www.bizjournals.com/pittsburgh/stories/2007/07/02/daily2.html |work=Pittsburgh Business Times |date=July 2, 2007 |access-date=January 23, 2015}}</ref>
===Post-merger history=== thumb|The post-merger logo for the firm In October 2008, the U.S. Treasury named BNY Mellon the master custodian of the Troubled Asset Relief Program (TARP) bailout fund during the 2008 financial crisis. BNY Mellon won the assignment, which included handling accounting and record-keeping for the program, through a bidding process.<ref name=Dash08>{{cite news |title=Bank of New York Mellon Will Oversee Bailout Fund |first=Eric |last=Dash |url=https://www.nytimes.com/2008/10/15/business/economy/15tarp.html?_r=0 |work=The New York Times |date=October 14, 2008 |access-date=January 15, 2015|issn=0362-4331|url-access=limited}}</ref> In November 2008, the company announced that it would lay-off 1,800 employees, or 4% of its global workforce, due to the 2008 financial crisis.<ref name=AP11>{{cite news| agency=AP| work=NBC News| date=November 21, 2011| url=https://www.nbcnews.com/id/wbna27840008 |title=WaMu, BNY Mellon latest to shed jobs |access-date=January 15, 2015}}</ref> According to the results of a February 2009 stress test conducted by federal regulators, BNY Mellon was one of only three banks that could withstand a worsening economic situation.<ref name=Atal09>{{cite news |title=Banker: "TARP helped avert a global calamity" |first=Maha |last=Atal |url=https://money.cnn.com/2009/07/23/news/companies/tarp_banks_new_york_mellon.fortune/index.htm |archive-url=https://web.archive.org/web/20090726013333/http://money.cnn.com/2009/07/23/news/companies/tarp_banks_new_york_mellon.fortune/index.htm |url-status=dead |archive-date=July 26, 2009 |work=Fortune |date=July 23, 2009 |access-date=January 23, 2015}}</ref> The company received $3 billion from TARP, which it paid back in full in June 2009, along with US$136 million to buy back warrants from the Treasury in August 2009.<ref name=Bernard09>{{cite news |title=Bank of New York Mellon repays TARP funds |first=Stephen |last=Bernard |url=http://seattletimes.com/html/businesstechnology/2009350394_apusbankofnewyorkmellontarprepayment.html |work=The Seattle Times |date=June 17, 2009 |access-date=January 15, 2015}}</ref><ref name=Stempel09>{{cite news |title=Bank of NY Mellon pays $136 mln for TARP warrants |first=Johnathan |last=Stempel |url=https://www.reuters.com/article/bankofnewyorkmellon-idUSN0526392520090805 |work=Reuters |date=August 5, 2009 |access-date=January 15, 2015}}</ref>
In August 2009, BNY Mellon purchased Insight Investment, a management business, from Lloyds Banking Group.<ref name=McGrath09>{{cite news |title=Lloyds to Sell Insight Investment to Bank of New York Mellon |first1=Steve |last1=McGrath |first2=Margot |last2=Patrick |url=https://www.wsj.com/articles/SB125006104765925251 |work=The Wall Street Journal |date=August 13, 2009 |access-date=January 14, 2015|language=en-US|issn=0099-9660|url-access=subscription}}</ref><ref name="AUM">{{cite news|url=https://www.wsj.com/articles/bny-mellon-profit-surges-48-1437476227|title=BNY Mellon Profit Surges 48%|work=The Wall Street Journal|date=July 21, 2015|first1=Daniel|last1=Huang|first2=Chelsey|last2=Dulaney|language=en-US|issn=0099-9660|url-access=subscription}}</ref> The company acquired PNC Financial Services' Global Investment Servicing Inc. in July 2010 and Talon Asset Management's wealth management business in 2011.<ref name=Zacks10>{{cite news |title=BNY Mellon Initiates GFI Group |url=http://www.zacks.com/stock/news/36563/bny-mellon-initiates-gfi-group |work=Zacks |date=July 7, 2010 |access-date=January 15, 2015 |archive-date=April 2, 2015 |archive-url=https://web.archive.org/web/20150402180547/http://www.zacks.com/stock/news/36563/bny-mellon-initiates-gfi-group}}</ref><ref name=Stein11>{{cite news |title=BNY Mellon to Buy Talon Wealth Management to Expand in Chicago |first=Charles |last=Stein |url=https://www.bloomberg.com/news/2011-04-28/bny-mellon-to-buy-talon-wealth-management-to-expand-in-chicago.html |work=Bloomberg |date=April 28, 2011 |access-date=January 15, 2015}}</ref>
By 2013, the company's capital had steadily recovered from the 2008 financial crisis. In the results of the Federal Reserve's Dodd-Frank stress test in 2013, the bank was least affected by hypothetical extreme economic scenarios among banks tested.<ref name=Adler13>{{cite news |title=Fed Unveils Dodd-Frank Stress Test Results |first=Joe |last=Adler |url=http://www.americanbanker.com/issues/178_46/fed-unveils-dodd-frank-stress-test-results-1057333-1.html |work=American Banker |date=March 7, 2013 |access-date=January 23, 2015}}</ref> It was also a top performer on the same test in 2014.<ref name=Touryalai14>{{cite news |title=Stress Test Results: Big Banks Look Healthier As 29 of 30 Pass, Zions Fails |first=Halah |last=Touryalai |url=https://www.forbes.com/sites/halahtouryalai/2014/03/20/stress-test-results-big-banks-look-healthier-as-29-of-30-pass-zion-fails/ |work=Forbes |date=March 20, 2014 |access-date=January 23, 2015}}</ref>
BNY Mellon began a marketing campaign in 2013 to increase awareness of the company that included a new slogan and logo.<ref name=OLeary13>{{cite news |title=BNY Mellon Review Meetings Set for Next Week New CMO Judy Hu leads the search |first=Noreen |last=O'Leary |url=http://www.adweek.com/news/advertising-branding/bny-mellon-agency-review-meetings-set-next-week-152084 |work=AdWeek |date=August 28, 2013 |access-date=January 15, 2015}}</ref><ref name=McMains13>{{cite news |title=TBWA Wins BNY Mellon's Global Account |first=Andrew |last=McMains |url=http://www.adweek.com/news/advertising-branding/tbwa-wins-bny-mellons-global-account-152369 |work=Adweek |date=September 12, 2013 |access-date=January 15, 2015}}</ref>
In 2013, the bank started building a new IT system called NEXEN.<ref name="Babcock15">{{cite news|last1=Babcock |first1=Charles|title=BNY Mellon Transforms IT One Step At A Time |url=http://www.informationweek.com/cloud/infrastructure-as-a-service/bny-mellon-transforms-it-one-step-at-a-time/d/d-id/1322801 |access-date=March 26, 2017|publisher=InformationWeek|date=October 26, 2015}}</ref><ref name="Baliva16">{{cite news|last1=Baliva|first1=Zach|title=Jennifer Cole is Helping Finance Giant BNY Mellon Become a Tech Giant Too |url=http://sync-magazine.com/2016/jennifer-cole-is-helping-finance-giant-bny-mellon-become-a-tech-giant-too/|access-date=March 26, 2017 |work=Sync|publisher=Guerrero Howe|date=June 15, 2016}}</ref> NEXEN uses open source technology and includes components such as an API store, data analytics, and a cloud computing environment.<ref name="Boulton16-1">{{cite news |last1=Boulton|first1=Clint|title=BNY Mellon Channels Silicon Valley Development Practices |url=https://blogs.wsj.com/cio/2015/04/02/bny-mellon-channels-silicon-valley-development-practices/|access-date=March 26, 2017 |work=The Wall Street Journal & Company |date=April 2, 2017|issn=0099-9660|url-access=subscription}}</ref><ref name="Fogarty16">{{cite news|last1=Fogarty|first1=Susan |date=October 21, 2016 |title=Banking On Open Platforms And APIs |url=http://www.networkcomputing.com/data-centers/banking-open-platforms-and-apis/197655413|access-date=March 26, 2017 |work=NetworkComputing |publisher=UBM}}</ref>
In May 2014, BNY Mellon moved its global headquarters from 1 Wall Street<ref>{{cite news|last1=Bloomberg News|title=BNY Mellon reach $585M deal to sell HQ|work=Crain's New York Business |date=May 21, 2014 |url=http://www.crainsnewyork.com/article/20140521/FINANCE/140529963/bny-mellon-reach-585m-deal-to-sell-hq}}</ref> to Brookfield Place, following the sale of the former building.<ref name=Morris14>{{cite news |title=BNY Mellon to Keep Headquarters in New York City |first1=Saabira |last1=Chaudhuri |first2=Keiko |last2=Morris |url=https://www.wsj.com/articles/bank-of-new-york-mellon-will-move-to-brookfield-place-1403788067 |work=The Wall Street Journal |date=June 26, 2014 |access-date=January 15, 2015|language=en-US|issn=0099-9660|url-access=subscription}}</ref> In June 2014, the company combined its global markets, global collateral services and prime services to create the new Markets Group,<ref name=Baert14>{{cite news |title=BNY Mellon combines 3 units into new group |first=Rick |last=Baert |work=Pensions & Investments |url=http://www.pionline.com/article/20140625/ONLINE/140629924/bny-mellon-combines-3-units-into-new-group |date=June 25, 2014 |access-date=January 20, 2015}}</ref> also known as BNY Markets Mellon.<ref name=globalinvestor>{{cite web|website=Global Investor |url=http://www.globalinvestormagazine.com/Article/3572057/Jeannine-Lehman-set-to-leave-BNY-Mellon.html|title=Jeannine Lehman set to leave BNY Mellon|date=July 20, 2016|access-date=October 20, 2016}}</ref> The company expanded its Hong Kong office in October 2014 as part of the company's plans to grow its wealth management business.<ref name=Sender2014>{{cite news |title=BNY Mellon launches Asia wealth management strategy |first=Henny |last=Sender |url=http://www.ft.com/intl/cms/s/0/d67cdf76-59a3-11e4-9546-00144feab7de.html#axzz3PboSdvju |work=Financial Times |date=October 22, 2015 |access-date=January 14, 2015}}</ref>
Between 2014 and 2016, BNY Mellon opened innovation centers focused on emerging technologies, big data, digital and cloud-based projects, with the first opening in Silicon Valley.<ref name="Boulton14">{{cite news |title=BNY Mellon Hiring Tech Talent for Silicon Valley Innovation Center |first=Clint |last=Boulton |url=https://blogs.wsj.com/cio/2014/11/20/bny-mellon-hiring-tech-talent-for-silicon-valley-innovation-center/ |work=The Wall Street Journal |date=November 20, 2014 |access-date=January 23, 2015|language=en-US|issn=0099-9660|url-access=subscription}}</ref><ref name=MacSweeney14>{{cite news |title=BNY Mellon Aims to Tap Data Science Talent In Silicon Valley |first=Greg |last=MacSweeney |url=http://www.wallstreetandtech.com/data-management/bny-mellon-aims-to-tap-data-science-talent-in-silicon-valley/d/d-id/1317800 |work=Wall Street and Technology |date=December 2, 2014 |access-date=January 15, 2015 |archive-url=https://web.archive.org/web/20150106193211/http://www.wallstreetandtech.com/data-management/bny-mellon-aims-to-tap-data-science-talent-in-silicon-valley/d/d-id/1317800 |archive-date=January 6, 2015}}</ref><ref name=Alois16>{{cite news |title=BNY Mellon's 8th Innovation Center Has Opened in Singapore |first=JD |last=Alois |url=http://www.crowdfundinsider.com/2016/11/93043-bny-mellons-8th-innovation-center-opened-singapore/ |work=Crowdfund Insider |date=November 27, 2016 |access-date=January 26, 2017}}</ref>
In September 2017, BNY Mellon announced that it agreed to sell CenterSquare Investment Management to its management team and the private equity firm Lovell Minnick Partners. The transaction is subject to standard regulatory approvals and is expected to be completed by the end of 2017.<ref>{{cite news |title=BNY Mellon Investment Management Announces Sale of the CenterSquare Business to CenterSquare Management and Lovell Minnick Partners |author=BNY Mellon Investment Management |url=http://www.prnewswire.com/news-releases/bny-mellon-investment-management-announces-sale-of-the-centersquare-business-to-centersquare-management-and-lovell-minnick-partners-300522736.html |work=PR Newswire |date=September 20, 2017 |access-date=September 20, 2017}}</ref>
In November 2017, BNY Mellon performed the United States banking industry's first real-time payment transaction using a system set up by The Clearing House. The transaction moved a nominal amount between accounts at BNY Mellon and U.S. Bancorp in three seconds, inaugurating the first new payment clearance and settlement system for the US in over 40 years.<ref>{{cite news |title=U.S. banks speed up with first new payment system in 40 years |url=https://www.reuters.com/article/usa-payments-idUKL1N1NJ0TY/ |access-date=4 December 2023 |work=Reuters |date=14 November 2017 |language=en}}</ref>
In January 2018, BNY Mellon announced that it was again moving its headquarters location, less than four years after its prior move. The headquarters location was announced as 240 Greenwich Street, a renaming of the already BNY Mellon-owned 101 Barclay Street office building in Tribeca, New York City.<ref>{{Cite news|url=https://www.wsj.com/articles/bank-of-new-york-mellon-plans-to-move-its-corporate-headquarters-in-lower-manhattan-1517433817|title=Bank of New York Mellon Plans to Move Its Corporate Headquarters in Lower Manhattan|last1=Baer |first1=Justin|date=January 31, 2018|work=The Wall Street Journal |access-date=March 23, 2019|last2=Morris|first2=Keiko|issn=0099-9660|url-access=subscription}}</ref><ref>{{Cite web |url=https://markets.businessinsider.com/news/stocks/bny-mellon-to-move-headquarters-for-second-time-in-four-years-1014746106 |title=BNY Mellon To Move Headquarters For Second Time In Four Years |website=Markets Insider |access-date=March 23, 2019}}</ref> BNY Mellon had owned the office building for over 30 years, with control of the location obtained via 99-year ground lease. The same year, the company purchased the location from the city for $352 million.<ref>{{Cite web |url=https://rew-online.com/2018/10/bank-of-new-york-mellon-buys-101-barclay-240-greenwich-for-352m/|title=BNY Mellon buys 101 Barclay for $352M |date=October 2, 2018|website=Real Estate Weekly |access-date=March 23, 2019|archive-date=March 23, 2019|archive-url=https://web.archive.org/web/20190323040312/https://rew-online.com/2018/10/bank-of-new-york-mellon-buys-101-barclay-240-greenwich-for-352m/}}</ref>
In February 2020, Mellon announced that it has successfully onboarded Liontrust Asset Management to its new Investment Operations platform.<ref>{{Cite web |date=2020-02-25 |title=BNY Mellon successfully onboards Liontrust to its new Investment Operations platform |url=https://www.finextra.com/pressarticle/81587/bny-mellon-successfully-onboards-liontrust-to-its-new-investment-operations-platform |access-date=2020-03-24 |website=Finextra Research |language=en}}</ref>
In early 2023, BNY Mellon's Pershing unit announced the addition of real-time payments to its investor portal.<ref>{{cite news |title=Pershing Speeds Investors' Transfers with Real-Time Payments - PYMNTS.com |url=https://www.pymnts.com/news/faster-payments/2023/bny-mellon-pershing-speeds-investors-transfers-with-real-time-payments/ |access-date=25 November 2023 |date=19 January 2023}}</ref> In June 2023, BNY Mellon's Pershing X launched wealth management platform Wove.<ref>{{cite news |last1=Corbin |first1=Kenneth |title=BNY Mellon's Pershing X Lands Major Client for New Advisor Tech Platform |url=https://www.barrons.com/advisor/articles/bny-mellons-pershing-x-lands-major-client-for-new-advisor-tech-platform-608f8e4d |access-date=25 November 2023 |work=www.barrons.com |date=4 October 2023}}</ref> In July 2023, BNY Mellon became an early adopter of Federal Reserve's instant payment rail, FedNow.<ref>{{cite news |last1=Adams |first1=John |title=FedNow's first participants include large banks, influential tech vendors |url=https://www.americanbanker.com/payments/news/fednows-first-participants-include-large-banks-influential-tech-vendors |access-date=25 November 2023 |work=American Banker |date=29 June 2023 |language=en}}</ref> That same year, BNY made history by selecting minority-, veteran-, and woman-owned firms as bookrunners for a $500 million debt offering.<ref>{{Cite web |last=Nguyen |first=Lananh |date=2023-05-18 |editor-last=Neely |editor-first=Jason |title=BNY Mellon prices $500 million debt offering via diverse bookrunners |url=https://www.reuters.com/business/finance/bny-mellon-prices-500-million-debt-offering-via-diverse-bookrunners-2023-05-18/ |website=Reuters}}</ref> Additionally, the company increased its minimum wage for U.S.-based employees by 12.5%, raising the hourly rate from $20.00 to $22.50, and expanded its mental health resources.<ref>{{Cite web |last=Stutts |first=Jordan |date=2023-12-01 |title=BNY Mellon raises minimum pay, offers new worker benefits |url=https://www.americanbanker.com/news/bny-mellon-raises-minimum-pay-offers-new-worker-benefits |access-date= |website=American Banker |language=en}}</ref>
In June 2024, BNY Mellon announced an update to its logo and a simplification of its corporate brand to BNY.<ref name=":2" /><ref>{{Cite web |date=2024-06-11 |title=BNY Mellon Rebrands as BNY |url=https://www.pymnts.com/news/banking/2024/bank-of-new-york-mellon-rebrands-as-bny/ |access-date=September 20, 2024 |website=PYMNTS.com |language=en-US}}</ref> As part of this rebranding, BNY Mellon Investment Management was renamed BNY Investments, BNY Mellon Wealth Management became BNY Wealth, and BNY Mellon Pershing was shortened to BNY Pershing.<ref name=":2">{{Cite web |last=Nguyen |first=Lananh |date=2024-06-12 |title=Alexander Hamilton's bank is getting a new name: BNY |url=https://www.reuters.com/business/finance/alexander-hamiltons-bank-is-getting-new-name-bny-2024-06-11/ |website=Reuters}}</ref>
In mid-2025, it was reported that BNY Mellon approached Northern Trust about the possibility of a merger. The firms had conversations but BNY's CEO declined to comment publicly, stating focus remains on "organic growth."<ref>{{Cite web |last=Baer |first=Lauren Thomas and Justin |date=2025-06-22 |title=Exclusive {{!}} Bank of New York Mellon Approached Northern Trust to Discuss Potential Merger |url=https://www.wsj.com/finance/banking/bank-of-new-york-mellon-approached-northern-trust-to-discuss-potential-merger-7017f4eb |access-date=2025-12-03 |website=The Wall Street Journal |language=en-US}}</ref>
In April 2026, the US Treasury announced BNY Mellon would be designated as a financial agent to manage initial Trump accounts, while also partnering with Robinhood to develop an app and provide customer service.<ref>{{Cite web |last=Pitcher |first=Ashlea Ebeling and Jack |date=2026-04-06 |title=Exclusive {{!}} BNY, Robinhood Win Contract for Running Trump Accounts |url=https://www.wsj.com/personal-finance/treasury-taps-bny-robinhood-to-help-run-trump-accounts-for-children-1e9caf92 |access-date=2026-04-08 |website=The Wall Street Journal |language=en-US}}</ref>
In May 2026, the company changed its stock ticker symbol from '''BK''' to '''BNY''' on the New York Stock Exchange (NYSE).
==Operations== BNY offers technology, services and expertise across its platforms to support clients on a global scale, helping them create, administer, manage, transact, distribute and optimize their assets. BNY's businesses include BNY Investments, BNY Wealth and BNY Pershing.<ref name=":2" />
BNY operates in 35 countries in the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific.<ref name=Fleisher14>{{cite news |title=Avoiding possible proxy fight, BNY Mellon gives board seat to activist investor Trian |first=Christopher |last=Fleisher |url=http://triblive.com/business/headlines/7286202-74/mellon-bny-bank#ixzz3Pq9N9eM3 |work=Pittsburgh Tribune-Review |date=December 2, 2014 |access-date=January 15, 2015}}</ref><ref name=Bloomberg>{{cite news |url=https://www.bloomberg.com/research/stocks/snapshot/snapshot_article.asp?ticker=BK |title=Bank Of New York Mellon Corp |work=bloomberg.com |publisher=Bloomberg L.P. |access-date=January 15, 2015}}</ref> The company employed 53,400 people {{as of| December 2023}}.<ref name="10K2023">{{cite web |title=The Bank of New York Mellon Corporation 2023 Annual Report |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1390777/000139077724000051/bk-20231231_d2.htm |publisher=U.S. Securities and Exchange Commission |access-date=February 28, 2024}}</ref> In October 2015, the group's American and global headquarters relocated to 225 Liberty Street, as the former 1 Wall Street building was sold in 2014.<ref name="Morris14"/> In July 2018, the company changed its headquarters again, this time to its existing 240 Greenwich Street location in New York (previously addressed 101 Barclay St).<ref>{{cite web|url=https://www.bnymellon.com/us/en/newsroom/news/company-news/bny-mellon-relocates-corporate-headquarters.jsp|title=BNY Mellon Relocates Corporate Headquarters|work=BNY Mellon|date=July 25, 2018|access-date=July 30, 2018}}</ref> The group's EMEA headquarters are located in London and its Asia-Pacific headquarters are located in Hong Kong.<ref name="Jönsson09">{{cite news |title=BNY Mellon to expand HK presence with 50 new hires |first=Anette |last=Jönsson |url=http://www.financeasia.com/News/154592,bny-mellon-to-expand-hk-presence-with-50-new-hires.aspx |work=FinanceAsia |date=September 2, 2009 |access-date=January 15, 2015}}</ref><ref name=FundWeb>{{cite web |url=http://www.fundweb.co.uk/bny-mellon/414859.supplier |title=BNY Mellon |work=fundweb.co.uk |publisher=Fundweb |access-date=January 15, 2015}}</ref>
===Business=== BNY is an international financial services company that helps clients manage, move and safekeep their assets across the entire financial lifecycle. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. BNY also supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard assets for individuals.<ref>{{Cite web |title=BNY Mellon's Pershing Launches a New Suite of Products on its Wove Platform |url=https://www.pershing.com/us/en/about/news/press-release/pershing-launches-a-new-suite-of-products-on-its-wove-platform.html |access-date=2024-08-26 |website=www.pershing.com |language=en-US}}</ref>
BNY had $45.7 trillion in assets under custody and $1.8 trillion in assets under management as of September 2023.<ref>{{cite news |last1=Case |first1=Ingrid |date=27 September 2023 |title=The Most Powerful Women in Finance: No. 8, Hanneke Smits, BNY Mellon Investment Management |url=https://www.americanbanker.com/news/the-most-powerful-women-in-finance-2023-hanneke-smits-bny-mellon |access-date=28 December 2023 |work=American Banker |language=en}}</ref> Those figures rose to $49.5 trillion in assets under custody and/or $2.0 trillion in assets under management by June 2024.<ref name=":1">{{Cite web |title=About BNY Mellon |url=https://www.bnymellon.com/us/en/about-us/about-bny-mellon.html |access-date=March 8, 2021 |website=www.bnymellon.com}}</ref> The financial services offered by the business include asset servicing, alternative investment services, broker-dealer services, corporate trust services and treasury services.<ref name="Bloomberg" /><ref name="yahoo">{{cite web |title=Bank of New York Mellon Profile |url=https://finance.yahoo.com/q/pr?s=BK |access-date=August 19, 2008 |publisher=Yahoo! Finance}}</ref> Other offerings include global collateral services, foreign exchange, securities lending, middle and back office outsourcing, and depository receipts.<ref name="Bloomberg" /><ref name="yahoo" /><ref name="Boyars14">{{cite web |url=http://boyarresearch.com/case-studies/BK-Oct-2014.pdf |title=The Bank of New York Mellon Corporation |date=October 31, 2014 |work=boyarresearch.com |publisher=Boyar's Intrinsic Value Research |access-date=January 15, 2015 |archive-date=April 2, 2015 |archive-url=https://web.archive.org/web/20150402121212/http://boyarresearch.com/case-studies/BK-Oct-2014.pdf |url-status=dead }}</ref> The bank's clients include a significant portion of Fortune 500 companies, top endowments, pension and employee benefit funds, life and health insurance companies, and leading universities.<ref name="Amjaroen14">{{cite news |title=3 Definitive Reasons Why The Bank of New York Mellon Corporation Has Much More Potential to Rise |first= Kingkarn |last=Amjaroen |url=http://www.fool.com/investing/general/2014/06/30/3-definitive-reasons-why-shares-of-bank-of-new-yor.aspx |work=The Motley Fool |date=June 30, 2014 |access-date=January 15, 2015}}</ref><ref name="BNY Mellon CSR">{{cite web |url=https://www.bnymellon.com/us/en/_locale-assets/pdf/csr/bny-mellon-2015-csr-full-report.pdf |title=Invested: Corporate Social Responsibility Report 2015 |publisher=BNY Mellon |access-date=July 27, 2016}}</ref>
In 2014, the company established the Markets Group, providing services in collateral management, securities finance, foreign exchange and capital markets.<ref name="Baert14" /> This group is now known as BNY Markets.<ref name="globalinvestor" />
====BNY Investments==== BNY Investments is an asset management group that manages nearly $2 trillion in assets.<ref name=":1" /> It provides investment solutions through its specialist firms, which include ARX Investimentos, Dreyfus, Insight Investment, Mellon Investments Corporation, Newton Investment Management, Siguler Guff & Company, and Walter Scott & Partners.<ref>{{Cite web |title=Investment Management |url=https://www.bnymellon.com/us/en/solutions/investment-management.html |access-date=2024-08-26 |website=www.bnymellon.com |language=en-US}}</ref> Each firm operates with its distinct approach to investment management across various asset classes.
==== BNY Pershing ==== BNY Pershing provides clearing and custody, trading and settlement services, a variety of investment solutions, middle and back office support, data insights and business consulting to clients in the wealth and institutional segments.<ref name="PershingYahoo">{{cite web |title=Pershing LLC Company Profile |url=http://biz.yahoo.com/ic/105/105160.html |access-date=February 6, 2015 |work=biz.yahoo.com |publisher=Yahoo}}</ref><ref name="Reuters13">{{cite news |date=March 6, 2013 |title=Bank of New York's Pershing reorganizes top management |url=https://www.reuters.com/article/us-bny-pershing-people-idUSBRE92518C20130306 |access-date=February 6, 2015 |work=Reuters}}</ref>
====BNY Wealth ==== BNY's Wealth business handles the private banking, estate planning, family office services, and investment servicing and management of high-net-worth individuals and families.<ref name="Bloomberg" /><ref name="Milburn14">{{cite news |title=Quiet Giant |first=Robert |last=Milburn |url=http://online.barrons.com/articles/bny-mellon-wealth-management-expands-1417229027 |work=Barron's |date=November 29, 2014 |access-date=January 17, 2015}}</ref> Starting in 2013, the unit began expansion efforts, including opening eight new banking offices, increasing salespeople, bankers, and portfolio managers on staff, and launching an awareness campaign for wealth management services through television ads.<ref name="Milburn14" /> As of 2014, it ranks 7th among wealth management businesses in the United States.<ref name="Milburn14" />
===Leadership=== Charles W. Scharf was appointed CEO in July 2017 and became Chairman after former CEO and chairman Gerald Hassell retired at the end of 2017.<ref name=Bray17>{{cite news |title=Bank of New York Mellon Hires Former Visa Head as C.E.O. |last1=Bray |first1=Chad |date=July 17, 2017 |newspaper=The New York Times |url=https://www.nytimes.com/2017/07/17/business/dealbook/bank-of-new-york-mellon-charles-scharf.html?_r=0 |access-date=July 24, 2017|issn=0362-4331|url-access=limited}}</ref><ref name=Mollenkamp11/> Hassell had been Chairman and CEO since 2011, after serving as BNY Mellon's president from 2007 to 2012<ref name=Mollenkamp11>{{cite news |title=BNY Mellon's New CEO Is Old Hand |first1=Carrick |last1=Mollenkamp |first2=Robin |last2=Sidel |url=https://www.wsj.com/articles/SB10001424053111903895904576544992946954136 |work=The Wall Street Journal |date=September 2, 2011 |access-date=January 15, 2015|language=en-US|issn=0099-9660|url-access=subscription}}</ref> and as the president of the Bank of New York from 1998 until its merger. Scharf stepped down in 2019 to become the new CEO of Wells Fargo. Thomas "Todd" Gibbons served as BNY Mellon's CEO from 2020 to 2022.<ref name=Forbes>{{cite news|title=Gerald Hassell Profile |url=https://www.forbes.com/profile/gerald-hassell/ |work=Forbes |access-date=February 5, 2015 |archive-url=https://web.archive.org/web/20141223024637/http://www.forbes.com/profile/gerald-hassell/ |archive-date=December 23, 2014 }}</ref> Robin A. Vince was appointed president and CEO in August 2022, succeeding Gibbons. Upon his appointment, Robin Vince also became a member of the company's board of directors.<ref>{{cite web| url=https://www.businessinsider.com/bny-mellon-ceo-robin-vince-strategy-2022-8| work=Business Insider|title= This Goldman Sachs alum aims to reinvigorate a sleeping giant that safeguards $43 trillion in assets| date=2022-08-31}}</ref><ref>{{cite news |last1=Tascarella |first1=Patty |date=12 August 2022 |title=BNY Mellon sets stage for next CEO |work=Pittsburgh Business Times |url=https://www.bizjournals.com/pittsburgh/news/2022/08/12/bny-mellon-ceo-change-set.html |access-date=25 November 2023}}</ref>
Karen Peetz served as president (the bank's first female president) from 2013 to 2016, when she retired; the company did not appoint a new president when she retired.<ref>{{cite web |title=Form 8-K Exhibit 99.1: Press release |url=https://www.sec.gov/Archives/edgar/data/1390777/000119312516719957/d266535d8k.htm|publisher=Bank of New York Mellon Corp via SEC Edgar |date=September 26, 2016}}, {{cite web|title=Form 8-K |url=https://www.sec.gov/Archives/edgar/data/1390777/000119312516719957/d266535dex991.htm |publisher=Bank of New York Mellon Corp via SEC Edgar|date=September 26, 2016}}</ref><ref name=Burns14>{{cite news |title=From the financial crisis to the Sandusky scandal, this one trait gave success to Karen Peetz of BNY Mellon |first=Hilary |last=Burns |url=http://www.bizjournals.com/bizwomen/news/profiles-strategies/2014/11/from-the-financial-crisis-to-the-sandusky-scandal.html?page=all |work=BizWomen |date=November 3, 2014 |access-date=January 15, 2015}}</ref> Thomas Gibbons served as CFO between 2008 and 2017, when he also served as vice chairman.<ref name=Taub08>{{cite news |title=BNY Mellon Reshuffles, Names Gibbons CFO |first=Stephen |last=Taub |url=http://ww2.cfo.com/human-capital-careers/2008/05/bny-mellon-reshuffles-names-gibbons-cfo/ |work=CFO |date=May 28, 2008 |access-date=February 5, 2015}}</ref> In 2017, Gibbons was replaced as CFO by Michael P. Santomassimo.<ref name="NewCFO">{{cite news |title=CEO Scharf Names a CFO in Executive Shuffle at Bank of New York Mellon |last=Baer |first=Justin |url=https://www.foxbusiness.com/features/ceo-scharf-names-a-cfo-in-executive-shuffle-at-bank-of-new-york-mellon |work=Fox Business |date=November 13, 2017 |access-date=December 5, 2018}}</ref><ref name="PIOnline">{{cite news |title=BNY Mellon reports slip in AUM for quarter, but gain for year |last=Williamson |first=Christine |url=https://www.pionline.com/article/20180719/ONLINE/180719840/bny-mellon-reports-slip-in-aum-for-quarter-but-gain-for-year# |work=Pensions & Investments |date=July 19, 2018 |access-date=December 5, 2018}}</ref> BNY Mellon's Investment Management business is run by CEO Mitchell Harris,<ref>{{cite web| last=Stein| first=Charles| title=BNY Mellon Says Vice Chairman Curtis Arledge to Leave Bank| publisher=Bloomberg L.P.| date=February 23, 2016| url=https://www.bloomberg.com/news/articles/2016-02-23/bny-mellon-says-vice-chairman-curtis-arledge-to-leave-the-bank| access-date = April 30, 2016 }}</ref> and the company's Investment Services business was led by Brian Shea<ref name=Reuters14>{{cite news |title=BNY Mellon names Brian Shea CEO of investment services |url=https://www.reuters.com/article/financial-moves-bnymellon-idUSL4N0P62RA20140625 |work=Reuters |date=June 25, 2014 |access-date=January 15, 2015}}</ref> until his retirement in December 2017.<ref>{{cite web |url=https://www.globalcustodian.com/bny-mellon-investor-services-head-shea-departs-amid-major-shake-up/Z|title=BNY Mellon Investor Services head Shea departs amid major shake-up |first=Hayley |last=McDowell |date=November 14, 2017|access-date=April 12, 2018}}</ref> In 2020, Hanneke Smits became CEO of BNY Mellon Investment Management.<ref>{{Cite web |date=2020-07-07 |title=Newton's Smits becomes BNY Mellon IM chief |url=https://www.ftadviser.com/investments/2020/07/07/newton-s-smits-becomes-bny-mellon-im-chief/ |access-date=September 20, 2024 |website=www.ftadviser.com |language=en}}</ref> In July 2024, BNY announced that Hanneke Smits would retire at the end of 2024, with Jose Minaya to become the next head of BNY Investments and BNY Wealth.<ref>{{Cite web |last=Ricketts |first=David |date=2024-07-02 |title=Hanneke Smits to step down as BNY's global investments boss |url=https://www.fnlondon.com/articles/hanneke-smits-to-step-down-as-bnys-global-investments-boss-de1005cf |website=Financial News}}</ref>
As of 2024, the company's board members were Linda Z. Cook, Joseph J. Echevarria, M. Amy Gilliland, Jeffrey A. Goldstein, K. Guru Gowrappan, Ralph Izzo, Sandie O'Connor, Elizabeth E. Robinson, Robin Vince, and Alfred W. "Al" Zollar.<ref name=BoD>{{cite web |url=https://www.bnymellon.com/us/en/investor-relations/corporate-governance.html |title=Meet Our Board of Directors |publisher=BNY Mellon |access-date=24 November 2023}}</ref>
===Company culture=== In 2008, BNY Mellon formed a Board of Directors corporate social responsibility committee to set sustainability goals.<ref name=Gell15>{{cite news |title=BNY Mellon elects former Deloitte CEO to board of directors |first=Adam |last=Gell |url=http://hereisthecity.com/en-gb/2015/02/05/bny-mellon-elects-former-deloitte-ceo-to-board-of-directors/ |work=HITC |date=February 5, 2015 |access-date=February 5, 2015}}</ref><ref name="Schaeffer14"/> The company's corporate social responsibility activities include philanthropy, social finance in the communities the bank is located in, and protecting financial markets globally.<ref name=EssentialPittsburgh14>{{cite news |title=Pittsburgh Businesses "On the Frontline" of Corporate Social Responsibility |url=http://wesa.fm/post/pittsburgh-businesses-frontline-corporate-social-responsibility |work=WESA |date=December 14, 2014 |access-date=February 23, 2015}}</ref>
The bank's philanthropic activities include financial donations and volunteerism.<ref name=Grgurich13/> The company matches employee volunteer hours and donations with financial contributions through its Giving at BNY program.<ref name=Massello14>{{cite news |title=Companies Where Millennials Thrive: BNY Mellon |first=Melissa |last=Massello |url=http://www.bentley.edu/prepared/companies-where-millennials-thrive-bny-mellon |work=PreparedU View |date=December 6, 2014 |access-date=February 6, 2015}}</ref> Between 2010 and 2012, the company and its employees donated approximately $100 million to charity.<ref name=Grgurich13>{{cite news |title=Goldman Sachs Defies Great Vampire Squid Label |first=John |last=Grgurich |url=http://www.fool.com/investing/general/2013/06/14/goldman-sachs-to-finance-early-education-program.aspx |work=The Motley Fool |date=June 14, 2013 |access-date=January 22, 2015}}</ref> In 2014, the company worked with the Forbes Fund to create a platform that connects nonprofit organizations with private businesses to solve social challenges.<ref name=Tascarella14>{{cite news |title=$1M social innovation challenge launched by BNY Mellon, foundation |first=Patty |last=Tascarella |url=http://www.bizjournals.com/pittsburgh/news/2014/10/24/1m-social-innovation-challenge-launched.html |work=Pittsburgh Business Journal |date=October 24, 2014 |access-date=January 18, 2015}}</ref>
The CDP, which measures corporate greenhouse gas emissions and disclosures, gave the company A ratings between 2013 and 2021.<ref>{{cite web |title=Bank of New York Mellon : BNY Mellon Named to Climate A List by CDP |url=https://www.marketscreener.com/quote/stock/BANK-OF-NEW-YORK-MELLON-C-11848/news/Bank-of-New-York-Mellon-BNY-Mellon-Named-to-Climate-A-List-by-CDP-28001217/ |website=www.marketscreener.com |access-date=27 December 2023 |language=en |date=12 February 2019}}</ref> As of 2014, the company has saved $48 million due to building efficiency; five of its buildings have achieved Leadership in Energy and Environmental Design (LEED-EB) certification and 23 have interiors that are LEED certified.<ref name="Schaeffer14">{{cite news |title=BNY Mellon's True Return on Investment |first=Julie |last=Schaeffer |url=http://gbdmagazine.com/2014/30-bny-mellon/ |work=Green Building and Design |date=November 2014 |access-date=January 22, 2015}}</ref>
The company has business resource groups for employees that are focused on diversity and inclusion.<ref name=EssentialPittsburgh14/><ref name=Catalyst13>{{cite web |last1=Pollack |first1=Alix |url=http://www.catalyst.org/knowledge/bny-mellon-fostering-global-inclusion-and-multiculturalism |title=BNY Mellon—Fostering Global Inclusion and Multiculturalism |date=June 9, 2013 |work=catalyst.org |publisher=Catalyst |access-date=January 15, 2015}}</ref> In 2009, Karen Peetz co-founded the BNY Mellon Women's Initiative Network (WIN), a resource group for female employees' professional development.<ref>{{cite news|last1=Masud|first1=Maha|title=Interview: President of BNY Mellon Karen Peetz on Women's Leadership|url=http://www.as-coa.org/articles/interview-president-bny-mellon-karen-peetz-women%E2%80%99s-leadership|work=Americas Society Council of the Americas|date=May 21, 2013}}</ref> As of 2013, WIN had 50 chapters.<ref name=Masud13>{{cite news |title=Interview: President of BNY Mellon Karen Peetz on Women's Leadership |first=Maha |last=Masud |url=http://www.as-coa.org/articles/interview-president-bny-mellon-karen-peetz-women%E2%80%99s-leadership |work=Council of the Americas |date=May 21, 2013 |access-date=January 15, 2015}}</ref> Other groups include PRISM for LGBT employees, IMPACT, which serves multicultural employees, HEART for employees with disabilities, GENEDGE, intergenerational resource group, and VETNET for veterans, military spouses, family members and their colleagues.<ref name=Catalyst13/><ref>{{cite news |last1=Tascarella |first1=Patty |title=BNY Mellon hired veteran-owned firms to participate in senior bank notes issuance |url=https://www.bizjournals.com/pittsburgh/news/2022/11/28/bny-mellon-hired-vet-owned-firms.html |access-date=27 December 2023 |work=Pittsburgh Business Times |date=28 November 2022}}</ref><ref>{{cite news |last1=Sanchez |first1=Brent |title=The Empower 100 Future Leaders Role Models 2022 |url=https://finance.yahoo.com/news/the-e-mpower-100-ethnic-minority-future-leaders-2022-230043252.html |access-date=27 December 2023 |work=Yahoo Finance |date=18 May 2022}}</ref> The bank has services for returning military, including a tool to help veterans align military skills and training with jobs at the company.<ref name=DiversityJournal14>{{cite news |title=25 Most Influential Companies for Veteran Hiring |date=2014 |url=http://www.diversityjournal.com/veterans2014/3/#bny-mellon |work=Diversity Journal |access-date=January 15, 2015 |archive-url=https://web.archive.org/web/20150227114531/http://www.diversityjournal.com/veterans2014/3/#bny-mellon |archive-date=February 27, 2015}}</ref> In 2014, it was recognized for its diversity practices by the National Business Inclusion Consortium, which named it Financial Services Diversity Corporation of the Year.<ref name=Affinity14>{{cite news |title=NGLCC names top financial services firms for diversity practices |url=http://affinityincmagazine.com/nglcc-names-top-financial-services-firms-for-diversity-practices/ |work=Affinity Inc Magazine |date=July 23, 2014 |access-date=January 15, 2015}}</ref>
In 2009, the company began an innovation program for employees to suggest ideas for large-scale projects and company improvement. Ideas from the initial pilot program generated approximately $165 million in pretax profit. The program results in an annual contest called "ACE" in which teams pitch their ideas.<ref name=Milligan14>{{cite news |title=How One Large Bank Fosters Innovation |first=Jack |last=Milligan |url=http://www.bankdirector.com/issues/strategy/how-one-large-bank-fosters-innovation/ |work=BankDirector.com |date=September 11, 2014 |access-date=January 22, 2015}}</ref>
In 2022, BNY Mellon released ''The Pathway to Inclusive Investment'', a report focused on the gender-investment gap.<ref>{{Cite web |last=Mirchandani |first=Bhakti |title=The Path To Inclusive Capitalism: An Asset Owner Guide For Investment Portfolios |url=https://www.forbes.com/sites/bhaktimirchandani/2022/12/20/the-path-to-inclusive-capitalism-an-asset-owner-guide-for-investment-portfolios/ |access-date=2024-05-16 |website=Forbes |language=en}}</ref> The research surveyed 8,000 respondents across 16 markets globally with combined assets of $60T. The report identified barriers to investment and ways that the industry could overcome them, indicating that if were women to invest at the same rate as men, this would unlock an estimated $3.2T of additional capital.<ref>{{cite news |last1=Kyriakou |first1=Simoney |title=Women could bring trillions into investments |url=https://www.ftadviser.com/investments/2022/02/08/women-could-bring-trillions-into-investments/ |access-date=28 December 2023 |work=www.ftadviser.com |date=1 February 2022 |language=en}}</ref>
In 2023, BNY hired Meaghan Muldoon, the firm's first Chief Sustainability Officer.<ref>{{Cite web |last=Hamez |first=Emile |date=2023-05-26 |title=BNY hires first chief sustainability officer from BlackRock |website=InvestmentNews |url=https://www.investmentnews.com/esg/news/bny-hires-first-chief-sustainability-officer-from-blackrock-238124}}</ref>
As of 2024, BNY has been included in the Dow Jones Sustainability Indices, recognized by the Human Rights Campaign Foundation's Corporate Equality Index, and listed on the FTSE4Good Global Benchmark Index, Bloomberg's Gender-Equality Index, and the JUST Capital's JUST 100 list.<ref>{{Cite web |date=2019-07-30 |title=BNY Mellon Named to Dow Jones Sustainability World Index |website=www.3blmedia.com |url=https://www.3blmedia.com/news/bny-mellon-named-dow-jones-sustainability-world-index |access-date=September 20, 2024 |language=en}}</ref><ref>{{Cite web |title=Leading Organisations Awards BNY |url=https://www.vercida.com/uk/articles/leading-organisations-awards-bny-mellon#:~:text=Bloomberg's%20Gender%2DEquality%20Index%20(GEI,reporting%20and%20advancing%20women's%20equality |website=Vercida}}</ref><ref>{{Cite web |title=BNY has been named among "Most Just Companies" list by JUST Capital, recognizing the firm for its commitment to serving employees, clients, the environment and shareholders. |url=https://www.vercida.com/uk/articles/bny-mellon-championing-a-culture-of-inclusion |website=Vercida}}</ref>
== Controversies and legal issues ==
=== Foreign currency exchange issues === In October 2011, the U.S. Justice Department and New York's attorney general filed civil lawsuits against the Bank of New York, alleging foreign currency fraud. The suits held that the bank deceived pension-fund clients by manipulating the prices assigned to them for foreign currency transactions. Allegedly, the bank selected the day's lowest rates for currency sales and highest rates for purchases, appropriating the difference as corporate profit. The scheme was said to have generated $2 billion for the bank, at the expense of millions of Americans' retirement funds, and to have transpired over more than a decade. Purportedly, the bank would offer secret pricing deals to clients who raised concerns, in order to avoid discovery. Bank of New York defended itself vigorously, maintaining the fraud accusations were "flat out wrong" and warning that as the bank employed 8,700 employees in New York, any damage to the bank would have negative repercussions for the state of New York.<ref name="WSJ Civil Suit">{{cite news|title=US and New York Sue BNY Mellon |last=Mollenkamp|first=Carrick|date=October 5, 2011 |newspaper=The Wall Street Journal|access-date=October 8, 2011|issn=0099-9660 |url=https://www.wsj.com/articles/SB10001424052970203791904576611313866750194 |url-access=subscription}}</ref><ref name="Harry Markopolos interview">{{cite web|title=Interview: Barry Markopolos |url=http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_Harry_M._Markopolos.html |website=King World News |archive-url=https://web.archive.org/web/20111010074041/http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_Harry_M._Markopolos.html |archive-date=October 10, 2011|access-date=October 8, 2011}}</ref>
Finally, in March 2015, the company admitted to facts concerning the misrepresentation of foreign exchange pricing and execution. BNY Mellon's alleged misconduct in this area includes representing pricing as best rates to its clients, when in fact they were providing clients with bad prices while retaining larger margins. In addition to dismissing key executives, the company agreed to pay a total of US$714 million to settle related lawsuits.<ref name="Gara14">{{cite news |url=https://www.forbes.com/sites/antoinegara/2015/03/19/bank-of-new-york-mellon-admits-something-nothing-714m-fx-settlement/ |title=Bank Of New York Mellon Settles Misrepresentation Claims For $714 Million|first=Antoine|last=Gara |date=March 19, 2015|work=Forbes|access-date=March 24, 2015}}</ref>
In May 2015, BNY Mellon agreed to pay $180 million to settle a foreign exchange-related lawsuit.<ref>{{Cite web|agency=Reuters |url=https://www.businessinsider.com/r-bny-mellon-to-pay-180-million-to-settle-foreign-exchange-lawsuit-2015-5|title=BNY Mellon to pay $180 million to settle foreign exchange lawsuit |website=Business Insider|access-date=March 23, 2019}}</ref>
In May 2016, multiple plaintiffs filed suit against the bank, alleging that the company had breached its fiduciary duty to ERISA plans that held American Depositary Receipts by overcharging retirement plans that invested in foreign securities.<ref>{{Cite web|url=https://www.pionline.com/article/20160111/ONLINE/160119991/bny-mellon-faces-lawsuit-claiming-fx-transaction-overcharges-on-adrs|title=BNY Mellon faces lawsuit claiming FX transaction overcharges on ADRs|last1=Baert|first1=Rick|date=January 11, 2016|website=Pensions & Investments|language=en|access-date=March 23, 2019|archive-date=March 23, 2019|archive-url=https://web.archive.org/web/20190323034830/https://www.pionline.com/article/20160111/ONLINE/160119991/bny-mellon-faces-lawsuit-claiming-fx-transaction-overcharges-on-adrs|url-status=dead}}</ref> In March 2017, the presiding judge declined to dismiss the suit. In December 2017, another lawsuit alleged that BNY Mellon manipulated foreign exchange rates was filed by Sheet Metal Workers' National Pension Fund.<ref>{{Cite web|url=http://biglawbusiness.com/bny-mellon-sued-again-over-foreign-currency-transactions|title=BNY Mellon Sued, Again, Over Foreign Currency Transactions|last=Law|first=Jacklyn Wille-Bloomberg|website=biglawbusiness.com|language=en|access-date=March 23, 2019}}</ref> BNY Mellon agreed to pay $12.5 million to settle the 2016 lawsuit in December 2018.<ref>{{Cite web|url=https://news.bloomberglaw.com/employee-benefits/bny-mellon-to-pay-125m-in-foreign-currency-exchange-suit|title=BNY Mellon to Pay $12.5M in Foreign Currency Exchange Suit|last=Wille|first=Jacklyn|website=Bloomberg Law|language=en|access-date=March 23, 2019}}</ref>
=== Personal data breach === In February 2008, BNY Mellon suffered a security breach resulting in the loss of personal information when backup tapes containing the personal records of 4.5 million individuals went missing. Social security numbers and bank account information were included in the records. The breach was not reported to the authorities until May 2008, and letters were sent to those affects on May 22, 2008.<ref>{{Cite web|url=https://www.bankinfosecurity.com/bank-new-york-mellon-investigated-for-lost-data-tape-a-862|title=Bank of New York Mellon Investigated for Lost Data Tape|website=www.bankinfosecurity.com|language=en|access-date=March 23, 2019}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/us-mellon-breach-idUSN2320877320080523|title=Connecticut widens probe into BNY Mellon data breach|date=May 23, 2008|work=Reuters|access-date=March 23, 2019|language=en}}</ref>
In August 2008, the number of affected individuals was raised to 12.5 million, 8 million more than originally thought.<ref>{{Cite news|url=https://www.reuters.com/article/us-bankofnymellon-breach-idUSN2834717120080828|title=Bank of NY Mellon data breach now affects 12.5 mln|date=August 28, 2008|work=Reuters|access-date=March 23, 2019|language=en}}</ref><ref>{{Cite web|url=https://www.bankinfosecurity.com/bank-ny-mellon-breach-much-bigger-than-first-announced-a-952|title=Bank of NY Mellon Breach Much Bigger than First Announced|website=www.bankinfosecurity.com|language=en|access-date=March 23, 2019}}</ref>
=== IT system outages === On Saturday, August 22, 2015, BNY Mellon's SunGard accounting system broke down during a software change. This led to the bank being unable to calculate net asset value (NAV) for 1,200 mutual funds via automated computer system.<ref>{{Cite web|url=https://money.cnn.com/2015/08/31/investing/wall-street-glitch-bny-mellon/index.html|archive-url=https://web.archive.org/web/20150903011052/http://money.cnn.com/2015/08/31/investing/wall-street-glitch-bny-mellon/index.html|url-status=dead|archive-date=September 3, 2015|title=A big bank's glitch adds to confusion on Wall Street|last=Egan|first=Matt|date=August 31, 2015|website=CNNMoney|access-date=March 23, 2019}}</ref> Between the breakdown and the eventual fix, the bank calculated the values using alternative means, such as manual operation staff. By Wednesday, August 26, the system was still not fully operational.<ref>{{Cite news|url=https://www.reuters.com/article/bnymellon-funds-nav-idUSL1N1111QY20150826|title=Update 2-BNY Mellon pricing glitch affects billions of dollars of funds |date=August 26, 2015|work=Reuters|access-date=March 23, 2019|language=en}}</ref> The system was finally operational to regular capacity the following week. As a result of a Massachusetts Securities Division investigation into the company's failure and lack of a backup plan, the company paid $3 million.<ref>{{Cite web|url=https://www.americanbanker.com/news/bny-mellon-to-pay-3m-to-settle-probe-of-system-outage|title=BNY Mellon to Pay $3M to Settle Probe of System Outage|website=American Banker|date=March 22, 2016|language=en|access-date=March 23, 2019}}</ref>
In December 2016, another major technology issue caused BNY Mellon to be unable to process payments related to the SWIFT network. As of the time of the issue, the bank processed about 160,000 global payments daily, an average of $1.6 trillion.<ref name="Reuters">{{Cite news|url=https://www.reuters.com/article/us-bony-mellon-payments-idUSKBN13X2N5|title=BNY Mellon's payment woes its second big tech glitch in 18 months|date=December 8, 2016|work=Reuters|access-date=March 23, 2019|language=en}}</ref> The company was unable to process payments for a 19 hours, which led to a backlog of payments and an extension of Fedwire payment services.<ref name="Reuters"/>
=== Privately owned public space agreement violation === According to a New York City Comptroller audit in April 2017, BNY Mellon was in violation of a privately owned public space (POPS) agreement for at least 15 years. In constructing the 101 Barclay Street building in Lower Manhattan, BNY Mellon had received a permit allowing modification of height and setback regulations in exchange for providing a lobby accessible to the general public 24 hours a day. Auditors and members of the public had been unable to access or assess the lobby for many years, and were actively prevented from doing so by BNY Mellon security.<ref>{{Cite web|url=http://gothamist.com/2017/04/19/pops_balderdash.php|title=Report: More Than Half The City's Privately Owned, Allegedly Public Spaces Aren't Playing By The Rules|last=Tempey|first=Nathan |website=Gothamist|date=April 19, 2017 |access-date=March 23, 2019 |archive-url=https://web.archive.org/web/20190323224626/http://gothamist.com/2017/04/19/pops_balderdash.php|archive-date=March 23, 2019}}</ref><ref>{{Cite web|url=https://comptroller.nyc.gov/wp-content/uploads/documents/SR16_102A.pdf|title=Audit Report on the City's Oversight over Privately Owned Public Spaces|last=Landa|first=Marjorie|date=April 18, 2017|website=comptroller.nyc.gov|access-date=March 23, 2019}}</ref>
In September 2018, the company began to permit public access to a portion of the lobby.<ref>{{Cite web |url=https://tribecacitizen.com/2018/09/04/bny-mellons-lobby-is-finally-open-to-the-public/|title=Tribeca Citizen {{!}} BNY Mellon's Lobby Is Finally Open to the Public|website=Tribeca Citizen|language=en-US|access-date=March 23, 2019}}</ref> However, BNY Mellon remains in violation of its agreement, as the lobby must be accessible to the public 24 hours a day.<ref>{{Cite web|url=https://capitalplanning.nyc.gov/|title=NYC Capital Planning Platform|website=NYC Capital Planning Platform|language=en|access-date=March 23, 2019}}</ref> As of early 2021 the city Comptroller reported that company security personnel prevented auditors from entering or photographing the lobby and was seeking to have the "public lobby" designation removed.<ref>{{cite web |url=https://www1.nyc.gov/assets/manhattancb1/downloads/pdf/resolutions/21-1-26.pdf |title=City of New York Community Board 1 Resolution (26 January 2021) |website=Manhattan Community Board 1 |publisher=City of New York |access-date=August 19, 2021}}</ref>
=== Employment legal issues === BNY Mellon settled foreign bribery charges with the U.S. Securities and Exchange Commission (SEC) in August 2015 regarding its practice of providing internships to relatives of officials at a Middle Eastern investment fund.<ref>{{Cite news|url=https://www.reuters.com/article/us-bny-mellon-sec-corruption-idUSKCN0QN1PJ20150818|title=BNY Mellon to pay $14.8 million to settle intern bribery probe|date=August 18, 2015|work=Reuters|access-date=March 23, 2019|language=en}}</ref> The U.S. SEC found the firm in violation of the Foreign Corrupt Practices Act.<ref>{{Cite web|url=https://money.cnn.com/2015/08/18/investing/sec-bny-mellon-fine-china/index.html|archive-url=https://web.archive.org/web/20150820232236/http://money.cnn.com/2015/08/18/investing/sec-bny-mellon-fine-china/index.html|url-status=dead|archive-date=August 20, 2015|title=BNY Mellon pays $15 million to settle intern probe|last=Yan|first=Sophia|date=August 18, 2015|website=CNNMoney|access-date=March 23, 2019}}</ref> The case was settled for $14.8 million.<ref>{{Cite web|url=https://www.sec.gov/news/pressrelease/2015-170.html|title=SEC.gov {{!}} SEC Charges BNY Mellon With FCPA Violations|website=www.sec.gov|access-date=March 23, 2019}}</ref>
In March 2019, BNY Mellon staff considered legal options after the company banned employees from working from home.<ref>{{Cite web|url=https://www.standard.co.uk/news/uk/boat-race-bank-bny-mellon-could-face-landmark-legal-fight-after-it-bans-staff-from-working-at-home-a4084026.html|title=Bank BNY Mellon bans staff from working at home|date=March 6, 2019|website=Evening Standard|language=en|access-date=March 23, 2019}}</ref> In particular, staff cited concerns regarding the impact on childcare, mental health, and diversity.<ref>{{Cite web|url=https://www.post-gazette.com/business/career-workplace/2019/03/07/BNY-Mellon-work-home-Charlie-Scharf-layoffs-England-email/stories/201903070119|title=BNY Mellon rethinking decision to yank work-from-home option after outcry|website=Pittsburgh Post-Gazette|language=en|access-date=March 23, 2019}}</ref> The company reverted the ban as a result of employee outcry.<ref>{{Cite web|url=https://www.americanbanker.com/news/bny-mellon-shelves-tighter-work-at-home-rules-after-staff-uproar|title=BNY Mellon shelves tighter work-at-home rules after staff uproar|website=American Banker|date=March 8, 2019|language=en|access-date=March 23, 2019}}</ref>
=== Other legal issues === In September 2009, BNY Mellon settled a lawsuit that had been filed against the Bank of New York by the Russian government in May 2007 for money laundering; the original suit claimed $22.5 billion in damages and was settled for $14 million.<ref name="forbes1">{{cite news |url=https://www.forbes.com/markets/feeds/afx/2007/05/17/afx3731121.html|title=Russia sues Bank of New York for 22.5 bln usd|date=May 17, 2007 |access-date=January 7, 2009|archive-url=https://web.archive.org/web/20081202170950/http://www.forbes.com/markets/feeds/afx/2007/05/17/afx3731121.html|archive-date=December 2, 2008 |work=Forbes}}</ref><ref name="cnnmoney">{{cite news |url=https://money.cnn.com/2009/09/16/news/companies/russia_bank_new_york.fortune/index.htm|archive-url=https://web.archive.org/web/20090923230844/http://money.cnn.com/2009/09/16/news/companies/russia_bank_new_york.fortune/index.htm|url-status=dead|archive-date=September 23, 2009|title=Russia settles suit against U.S. bank for a pittance|last=Parloff|first=Roger|date=September 22, 2009|access-date=May 27, 2011|publisher=CNN}}</ref>
In 2011, South Carolina sued BNY Mellon for allegedly failing to adhere to the investment guidelines relating to the state's pension fund. The company settled with the state in June 2013 for $34 million.<ref>{{Cite web|url=https://www.globalcustodian.com/bny-mellon-reaches-34-million-settlement-with-south-carolina-relating-to-securities-lending-litigation/|title=BNY Mellon Reaches $34 Million Settlement With South Carolina Relating to Securities Lending Litigation |website=Global Custodian |date=June 5, 2013 |access-date=March 23, 2019}}</ref><ref>{{Cite web|url=https://www.thestreet.com/story/10987566/1/south-carolina-sues-bank-of-new-york-mellon.html|title=South Carolina Sues BNY Mellon|last=Woehr|first=Maria|date=January 27, 2011|website=TheStreet|language=en|access-date=March 23, 2019}}</ref>
In July 2012, BNY Mellon settled a class action lawsuit relating to the collapse of Sigma Finance Corp. The suit alleged that the bank invested and lost cash collateral in medium-term notes. The company settled the lawsuit for $280 million.<ref>{{Cite news|url=https://www.reuters.com/article/us-bnymellon-lawsuit-idUSBRE8650JS20120706|title=BNY Mellon settles Sigma lawsuit for $280 million|date=July 6, 2012|work=Reuters|access-date=March 23, 2019|language=en}}</ref>
In December 2018, BNY Mellon agreed to pay nearly $54 million to settle charges of improper handling of "pre-released" American depositary receipts (ADRs) under investigation of the U.S. Securities and Exchange Commission (SEC). BNY Mellon did not admit or deny the investigation findings but agreed to pay disgorgement of more than $29.3 million, $4.2 million in prejudgment interest and a penalty of $20.5 million.<ref>{{cite web|url=https://www.sec.gov/news/press-release/2018-285|title=BNY Mellon to Pay More Than $54 Million for Improper Handling of ADRs|date= December 17, 2018|website=sec.org|access-date=December 13, 2019}}</ref><ref>{{cite web|url=https://www.reuters.com/article/us-sec-bny-mellon/bny-mellon-to-pay-more-than-54-million-for-improper-handling-of-adrs-sec-idUSKBN1OG20F|title=BNY Mellon to pay more than $54 million for improper handling of ADRs: SEC|date= December 17, 2018|website=Reuters|access-date=December 13, 2019}}</ref>
==Recognition and rankings== As of 2024, BNY is the world's largest custody bank,<ref name="BNYMellon15">{{cite web|url=https://www.bnymellon.com/_global-assets/pdf/investor-relations/quarterly-financial-highlights-4q-2014.pdf|title=Fourth Quarter 2014 Financial Highlights|date=January 23, 2015|publisher=The Bank of New York Mellon|pages=19, 27|work=bnymellon.com|access-date=January 15, 2015|archive-date=April 2, 2015|archive-url=https://web.archive.org/web/20150402140108/https://www.bnymellon.com/_global-assets/pdf/investor-relations/quarterly-financial-highlights-4q-2014.pdf|url-status=dead}}</ref><ref name=McLaughlin15>{{cite news |title=BNY Mellon, State Street get profit boost from forex trading |first=Tim |last=McLaughlin |url=https://www.reuters.com/article/us-banks-statestreet-earnings-idUSKBN0KW1H420150123 |work=Reuters |date=January 23, 2015 |access-date=January 23, 2015}}</ref> the sixth-largest investment management firm in the world,<ref name=Manning15>{{cite news |title=3 reasons BNY Mellon keeps growing in Tampa |first=Margie |last=Manning |url=http://www.bizjournals.com/tampabay/blog/morning-edition/2015/01/3-reasons-bny-mellon-keeps-growing-in-tampa.html |work=Tampa Bay Business Journal |date=January 7, 2015 |access-date=January 17, 2015}}</ref> and the seventh-largest wealth management firm in the United States.<ref name="Sender2014"/> In 2018, BNY ranked 175 on the ''Fortune'' 500<ref>{{Cite web |url=http://fortune.com/fortune500/list|title=Fortune 500 Companies 2018: Who Made the List|website=Fortune|language=en-US|access-date=November 22, 2018|archive-date=May 2, 2019|archive-url=https://web.archive.org/web/20190502115903/http://fortune.com/fortune500/list/}}</ref> and 250 on the Financial Times Global 500.<ref name=Dullforce14>{{cite news |title=FT 500 2014 |first=Annebritt |last=Dullforce |url=http://www.ft.com/intl/cms/s/0/988051be-fdee-11e3-bd0e-00144feab7de.html#axzz3PboSdvju |work=Financial Times |date=June 27, 2014 |access-date=January 17, 2015}}</ref> By 2024, it ranked 130th on the ''Fortune'' 500 list.<ref>{{Cite web |title=Fortune Global 500 |url=https://fortune.com/ranking/global500/ |access-date=September 20, 2024 |website=Fortune |language=en}}</ref>
It was named one of world's 50 Safest Banks by ''Global Finance'' in 2013 and 2014,<ref name="Cunningham14">{{cite news |title=World's Safest Banks 2014 |first=Andrew |last=Cunningham |url=https://www.gfmag.com/magazine/november-2014/top-50-safest-global-banks-2014?page=3 |work=Global Finance |date=November 13, 2014 |access-date=January 17, 2015}}</ref><ref name="Cunningham13">{{cite news |title=World's Safest Banks 2013 |first=Andrew |last=Cunningham |url=https://www.gfmag.com/magazine/october-2013-1/worlds-safest-banks-2013 |work=Global Finance |date=October 1, 2013 |access-date=January 17, 2015}}</ref> and one of the 20 Most Valuable Banking Brands in 2014 by ''The Banker''.<ref name="Wallace14">{{cite news |title=The Top 500 Banking Brands, 2014 |first=Paul |last=Wallace |url=http://www.thebanker.com/Banker-Data/Banker-Rankings/The-Top-500-Banking-Brands-2014 |work=The Banker |date=March 2, 2014 |access-date=January 17, 2015}}</ref> BNY was named on the Dow Jones Sustainability North America Index in 2013,<ref name="JustMeans14">{{cite news |title=Invested: An Interview With Bny Mellon Corporate Social {{as written|Responsib|lity [sic]}} Director John Buckley |url=http://www.justmeans.com/article/invested-an-interview-with-bny-mellon-corporate-social-responsiblity-director-john-buckley#sthash.fwgNnQdP.dpuf |work=JustMeans |date=June 6, 2014 |access-date=January 15, 2015}}</ref> 2014 and 2015, and the World Index in 2014,<ref name="Clancy14">{{cite news |title=The 2014 Dow Jones Sustainability Index: Abbott to Woolworths |first=Heather |last=Clancy |url=http://www.greenbiz.com/blog/2014/09/11/bmw-bayer-intel-sap-and-unilever-prevail-dow-jones-sustainability-list |work=GreenBiz |date=September 11, 2014 |access-date=January 15, 2015}}</ref> 2015<ref name="Techsonian15">{{cite news |title=Stocks to Track – National-Oilwell Varco, (NOV), SunTrust Banks, (STI), Bank of New York Mellon (BK), Apache (APA) |url=http://www.techsonian.com/stocks-to-track-national-oilwell-varco-nov-suntrust-banks-sti-bank-of-new-york-mellon-bk-apache-apa/12581931/ |work=Techsonian |date=September 14, 2015 |access-date=October 21, 2015}}</ref> and 2016.<ref name="DJSI2016">{{cite web |title=Dow Jones Sustainability Indices |url= http://www.robecosam.com/images/DJSI2016_ComponentList_World.pdf |date=September 19, 2016 |access-date=December 18, 2016 |archive-url=https://web.archive.org/web/20161220151047/http://www.robecosam.com/images/DJSI2016_ComponentList_World.pdf |archive-date=December 20, 2016}}</ref> BNY has also been named among the World's Most Admired Companies by ''Fortune''.<ref name=":3" />
The bank claims to be the longest-running bank in the United States,<ref>{{Cite news|title=Investor Relations|work=BNY Mellon |url=https://www.bnymellon.com/us/en/investor-relations/index.jsp |access-date=April 20, 2018|language=en}}</ref> though this distinction is sometimes disputed by rivals and historians.<ref name="Globe2011" /> The Bank of North America, chartered in 1781, was eventually acquired by Wells Fargo after a series of mergers. Similarly, The Massachusetts Bank became part of Bank of America through a series of acquisitions. The Bank of New York remained independent, acquiring other companies, until its merger with Mellon. BNY is generally recognized as one of the three oldest banks in the U.S.<ref name="Globe2011" />
==Sponsorships== Since 2012, BNY has expanded its number of sponsorships.<ref name=IEG>{{cite news |title=BNY Mellon Banks On Expanded Sponsorship Portfolio |url=http://www.sponsorship.com/iegsr/2013/09/16/BNY-Mellon-Banks-On-Expanded-Sponsorship-Portfolio.aspx |work=IEG SR |date=September 16, 2013 |access-date=January 22, 2015}}</ref> BNY was the title sponsor of the Oxford and Cambridge Boat Race from 2012 to 2015.<ref name="IEG" /><ref name="Long12">{{cite news |title=BNY Mellon names historic Boat Race |first=Michael |last=Long |url=http://www.sportspromedia.com/news/bny_mellon_names_historic_boat_race |work=SportsPro |date=February 9, 2012 |access-date=January 22, 2015}}</ref><ref>{{Cite web|url=https://fundraising.co.uk/2016/01/22/boat-race-sponsors-donate-sponsorship-cancer-research-uk/#.Wf2-Sd-E5hF|title=Boat Race sponsors donate sponsorship to Cancer Research UK {{!}} UK Fundraising|website=fundraising.co.uk|date=January 22, 2016 |language=en-GB|access-date=November 4, 2017}}</ref> The company also sponsors the Head of the Charles Regatta in Boston.<ref name="IEG" /> In 2013, the company became a 10-year sponsor of the San Francisco 49ers and a founding partner of Levi's Stadium.<ref name="Long1">{{cite news |title=BNY Mellon partners 49ers, Levi's Stadium |first=Michael |last=Long |url=http://www.sportspromedia.com/news/bny_mellon_partners_49ers_levis_stadium |work=SportsPro |date=September 11, 2013 |access-date=January 22, 2015}}</ref> The company is a regular sponsor of the Royal Academy of Arts in London,<ref name=LondonEvening13>{{cite news |title=BNY Mellon rows to the Balding beat with the boat race |url=https://www.standard.co.uk/news/londoners-diary/bny-mellon-rows-to-the-balding-beat-with-the-boat-race-8556950.html |work=London Evening Standard |date=April 2, 2013 |access-date=January 22, 2015}}</ref> the Pittsburgh Symphony Orchestra,<ref>{{Cite web |title=Our Partners |url=https://pittsburghsymphony.org/pso_home/web/give-landing/corporate-partnerships/our-partners |access-date=2024-10-03 |website=pittsburghsymphony.org}}</ref> and is a founding sponsor of the Perelman Performing Arts Center (PAC) in Lower Manhattan.<ref>{{Cite web |title=Our Donors {{!}} Perelman Performing Arts Center |url=https://pacnyc.org/our-donors/ |access-date=2024-10-03 |website=pacnyc.org |language=en-US}}</ref> In January 2026, BNY was signed as the official institutional banking partner of Williams F1 Team.<ref>{{Cite web |last=Dalleres |first=Frank |date=January 30, 2026 |title=Williams F1 adds banking giant to partner roster ahead of pivotal season |url=https://www.cityam.com/williams-f1-adds-banking-giant-to-partner-roster-ahead-of-pivotal-season/ |access-date=February 3, 2026 |website=City AM |language=}}</ref>
==See also== {{Portal|Banks}} {{commons category}} * List of presidents of the Bank of New York * 1 Wall Street * BNY Mellon Center (disambiguation) * CIBC Mellon * Eagle Investment Systems
==Notes== {{Notelist}}
==References== {{Reflist|30em}}
==Books== {{Refbegin}} *{{cite book |last=Unger |first=Craig |author-link=Craig Unger |title=House of Trump, House of Putin: The Untold Story of Donald Trump and the Russian Mafia |publisher=Dutton |date=August 14, 2018 |isbn=978-1524743505}} *{{Cite book |last=Skuratov|first= Yury Ilyich |author-link=Yury Skuratov |title=Кремлёвские подряды: Последнее дело прокурора |trans-title=Kremlin contracts. The last case of the Attorney General |language=ru |publisher={{ill|ООО «Издательство Алгоритм»|ru|Алгоритм (издательство)}} (Algorithm Publishing House) |location=Moscow |date=2013 |isbn=978-5-4438-0301-2}} {{Refend}}
==External links== * {{Official website|https://www.bnymellon.com}} {{Finance links | name = The Bank of New York Mellon Corporation | symbol = BNY | sec_cik = 1390777 | yahoo = BNY | google = BNY:NYSE | reuters = BNY.N }}
{{BNY Mellon}} {{Alexander Hamilton}} {{Custodian Bank}} {{S&P 500 companies}} {{Authority control|state=expanded}}
{{DEFAULTSORT:Bank Of New York Mellon}} Category:BNY Mellon Category:Alexander Hamilton Category:Companies listed on the New York Stock Exchange Category:2007 establishments in New York City Category:Banks based in New York City Category:Systemically important financial institutions Category:Companies based in Manhattan Category:American companies established in 2007 Category:Banks established in 2007 Category:Multinational companies based in New York City Category:Publicly traded companies based in New York City Category:Asset management companies Category:2007 mergers and acquisitions