The Bank Of New York Mellon Corporation
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing
a comprehensive array of services that enable institutions and individuals to
move and manage their financial assets in more than 100 markets worldwide. The
Company has a long tradition of collaborating with clients to deliver innovative
solutions through its core competencies: securities servicing, treasury management,
investment management, and individual & regional banking services. The Company’s
extensive global client base includes a broad range of leading financial institutions,
corporations, government entities, endowments and foundations. Its principal
subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the
United States and has consistently played a prominent role in the evolution
of financial markets worldwide.
The Company has executed a consistent strategy over the past decade by focusing
on highly scalable, fee-based securities servicing and fiduciary businesses,
with top three market share in most of its major product lines. The Company
distinguishes itself competitively by offering the broadest array of products
and services around the investment lifecycle. These include: advisory and asset
management services to support the investment decision; extensive trade execution,
clearance and settlement capabilities; custody, securities lending, accounting
and administrative services for investment portfolios; and sophisticated risk
and performance measurement tools for analyzing portfolios. The Company also
provides services for issuers of both equity and debt securities. By providing
integrated solutions for clients’ needs, the Company strives to be the preferred
partner in helping its clients succeed in the world’s rapidly evolving financial
markets.
The Company has grown both through internal reinvestment as well as execution
of strategic acquisitions to expand product offerings and increase market share
in its scale businesses. Internal reinvestment occurs through increased technology
spending, staffing levels, marketing/branding initiatives, quality programs,
and product development. The Company consistently invests in technology to improve
the breadth and quality of its product offerings, and to increase economies
of scale. With respect to acquisitions, the Company has acquired 92 businesses
since 1995, almost exclusively in its securities servicing and fiduciary segment.
The acquisition of Pershing in 2003 for $2 billion was the largest of these
acquisitions.
As part of the transformation to a leading securities servicing provider, the
Company has also de-emphasized or exited its slower growth traditional banking
businesses over the past decade.