Bank of New York Mellon Corporation at a Glance


  • “There are opportunities to move around within the company”
  • Management is “very open and easy to work with”


  • “No sick days”
  • “No overtime pay given”

The Buzz

  • "Good work life"
  • "Mediocre"
  • "Trust bank"
  • "Transaction services leader but not well known"

About Bank of New York Mellon Corporation

No. 1 on Wall Street

Created by the $17.6 billion merger of Mellon Financial Corporation and The Bank of New York Company in July 2007, The Bank of New York Mellon is a securities services and asset management company with more than 48,000 employees operating across 36 countries. Headquartered in New York City, at the enviable address of One Wall Street, BNY Mellon has about $25.5 trillion in assets under custody or administration and more than $1.2 trillion under management. Its clients include asset managers, banks, broker-dealers, corporations, governments, high-net-worth individuals, insurance companies, non-profits, and pension funds. In the U.S., BNY Mellon ranks as the eighth-largest asset managers by assets under management. Worldwide, the firm ranks as the 11th-largest. Although the bulk of its employees are located in the Americas, BNY Mellons employs more than 9,000 people in Europe, the Middle East, and Africa, and more than 7,000 in the Asia-Pacific region.

From New York and Pennsylvania to the world

Founded in 1784, BNY can honestly claim to be the oldest bank in the U.S.  Chartered by a group of New Yorkers (including Alexander Hamilton), it was the first corporate stock to be traded on the New York Stock Exchange, which opened in 1792.  The bank played a major role in financing industrial and economic growth in New York City, building its assets through the 1800s and into the 1900s.  In 1922, BNY gained a trust business by acquiring the New York Life Insurance and Trust Company; it survived the stock market crash of 1929 and went on to acquire the Fifth Avenue Bank and the Empire Trust Company.  In the 1960s, BNY went where it had never gone before-outside New York, by opening a London office and purchasing National Community Banks in New Jersey and the Putnam Trust Company in Connecticut.  The 1988 acquisition of the Irving Bank Corporation created what was then the 10th-largest bank in the U.S. 

Mellon, on the other hand, was founded in 1869 by Thomas Mellon and his two sons.  One of those sons, Andrew Mellon, eventually became the U.S. Treasury Secretary. Many industrial giants-from an oil company to a steel empire-were backed by Mellon, and it was known for taking investment risks as well as allowing the burgeoning industrial community in southwestern Pennsylvania to thrive.  Throughout the 1980s and 1990s, it bought up a number of banks in its native state of Pennsylvania, and eventually nabbed such firms as the Boston Company, the Dreyfus Corporation, United Bankshares and insurance company Safeco Corporation.

Up to its old tricks

Shortly into its marriage, The Bank of New York Mellon was acquiring companies as a combined entity.  In December 2007, the firm bought ABN AMRO Mellon Global Securities Services B.V., a 50/50 joint venture company established by Mellon Bank N.A. and ABN AMRO in 2003 to provide global custody and related services to institutions outside North America.  The firm became known as BNY Mellon Asset Servicing B.V. and a part of the asset servicing division of The Bank of New York Mellon.  The bank continues to be headquartered in Amsterdam and regulated by De Nederlandsche Bank.  Existing ABN AMRO Mellon clients will remain contracted to BNY Mellon Asset Servicing B.V., as will ABN AMRO Mellon staff at the company's operational centers around the world.  In conjunction with the deal, ABN AMRO Mellon CEO Nadine Chakar took up a new position as chair of the supervisory board of BNY Mellon Asset Servicing B.V., and Pim Nederpel, ABN AMRO Mellon's CFO, was appointed CEO.

The Bank of New York Mellon made another international purchase in January 2008 when it completed the acquisition of ARX Capital Management, an independent asset management business headquartered in Rio de Janeiro, Brazil.  ARX specializes in Brazilian multi-strategy, long/short and long only investment strategies, and has more than $2.8 billion in assets under management.

Big-name clients

In June 2009, Bank of New York Mellon was selected by mortgage provider Freddie Mac as designated custodian.  In this role, Mellon will be the custodian for all documents related to mortgages delivered to Freddie Mac-a role Freddie Mac will be relinquishing.  Mellon officially began providing custodial services in October 2009.

Back in October 2008, BNY Mellon was named master custodian overseeing the Treasury Department's $700 billion bailout.  Among its responsibilities as master custodian are providing record-keeping services and overseeing the bailout fund's cash and assets; providing pricing and asset valuation services; and managing reverse auctions for troubled assets and executive compensation limits.  The company outbid Citigroup, Wells Fargo and State Street for the job, according to The New York Times.

And when Lehman Brothers infamously went bankrupt in September 2008, BNY Mellon was a corporate trustee for Lehman debt issues and sat on the committee overseeing the Lehman bankruptcy proceedings.


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Bank of New York Mellon Corporation

One Wall Street
New York, NY 10286
Phone: (212) 495-1784
Fax: (212) 495-2546


  • Employer Type: Public
  • Stock Symbol: BK
  • Stock Exchange: NYSE
  • Chairman & CEO: Robert P. Kelly
  • 2011 Employees: 48,500

Major Office Locations

  • Los Angeles, CA
  • Greenwich, CT
  • Stamford, CT
  • Newark, DE
  • Miami, FL
  • Chicago, IL
  • New York, NY
  • White Plains, NY
  • Pittsburgh, PA
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