Sector: Financials|Industry: Banks - Diversified|Market Cap: $55.13B|Employees: 53.4K
The Bank of New York Mellon Corporation is a global financial services company providing a wide range of services including asset servicing, issuer services, and investment management. They operate through three main segments: Securities Services, Market and Wealth Services, and Investment and Wealth Management. BNY Mellon is a major player in the financial industry with a long history dating back to 1784, and has a significant global presence.
As of Dec 31, 2023, BNY Mellon reported $47.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. This indicates the scale of the company's operations and its position in the market.
BNY Mellon divides its businesses into Securities Services, Market and Wealth Services, and Investment and Wealth Management. These segments provide a structure for understanding the company's revenue streams and operational focus.
The company notes that they are dependent on fee-based business for a substantial majority of their revenue. This highlights the importance of market activity and client volumes for the company's financial performance.