Bank of New York Mellon

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The Bank of New York Mellon Corporation

logo
legal form Corporation
ISIN US0640581007
founding June 9, 1784
Seat New York City , United StatesUnited StatesUnited States 
management Charles W. Scharf, CEO
Number of employees 51,300
sales 16.4 billion USD
Branch Financial service providers
Website www.bnymellon.com
As of December 31, 2018

The Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company that was formed on July 1, 2007 from the Bank of New York and the Mellon Financial Corporation . The company employs approximately 51,300 people, has more than $ 1.4 trillion in assets, and services more than $ 26.7 trillion.

BNY Mellon offers investment management ( asset management ) for predominantly institutional customers such as pension funds as well as investment services such as custodian banking, payment processing and numerous other services for other financial institutions.

The bank is one of the 30 major banks that the Financial Stability Board (FSB) as "systemically important financial institution" ( systemically important financial institution ) were classified. It is therefore subject to special monitoring and stricter requirements for the endowment with equity .

history

Bank of New York

The Bank of New York was founded by Alexander Hamilton in 1784 , making it the oldest bank in the United States . She opened her business on June 9, 1784 at Walton House in Manhattan . In 1792 it was the first company to be listed on the New York Stock Exchange. In 1922 it merged with the New York Life Insurance & Trust Company .

Major acquisitions :

  • 1948 The Fifth Avenue Bank
  • 1966 Empire Trust Company
  • 1988 Irving Bank Corporation relocated to One Wall Street , now known as the Bank of New York Building
  • in the 1990s: National Community Banks and Putnam Trust Company
  • 2003 Pershing LLC
  • in the 2000s: a total of 80 additional acquisitions.
Corporate headquarters, 1 Wall Street , New York.

Mellon Financial

T. Mellon & Son's Bank , as Mellon Financial was originally called, was founded in Pittsburgh in 1869 by former judge Thomas Mellon and his sons Andrew W. Mellon and Richard B. Mellon . In 1886 Thomas Mellon handed over management of the company to Andrew. He left the company in 1920 to serve under three presidents and as finance minister during the Great Depression. From 1902 the bank operated as Mellon National Bank . The company merged in 1946 with the Union Trust Company, also founded by Andrew Mellon, to form the Mellon National Bank and Trust Company, with assets of more than one billion US dollars.

In December 2006, it was announced that the Bank of New York Company, Inc. and Mellon Financial Corporation would merge to form the Bank of New York Mellon Corporation .

Others

In the area of asset management , the Bank of New York Mellon entered Germany last together with the WestLB under a 2006 founded joint venture among equals under the name of WestLB Mellon Asset Management in. In the course of the break-up of WestLB, BNY Mellon also acquired the second half of the company. The subsidiary has now been renamed Meriten Investment Management .

In 2010, BNY Mellon took over its previous partner in Germany, BHF Asset Servicing . The new subsidiary has been operating under the name The Bank of New York Mellon SA / NV since June 1, 2011 after the merger with the Belgian Bank . In the trial that began in Bonn in September 2019, the bank is accused of having illegally unpaid taxes refunded on Cum Ex transactions.

Holdings

BNY Mellon holds 26.955 percent of the shares in the Russian corporation Gazprom .

Web links

Individual evidence

  1. ↑ a b c Annual Report 2018. In: The Bank of New York Mellon Corporation 2019. Accessed March 4, 2019 .
  2. ↑ Who We Are - BNY Mellon. In: bnymellon.com. December 31, 2014, accessed February 14, 2015 .
  3. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  4. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012.
  5. ↑ History / Owner - Overview In: wmam.de
  6. ↑ Reuters: US partner secures WestLB-Mellon. In: handelsblatt.com . October 2, 2012, accessed February 14, 2015 .
  7. ↑ The biggest tax theft in German history , Tim Bartz, Spiegel Online , September 4, 2019