40 Facts About BNY Mellon

Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City.

BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007.

BNY Mellon 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.

BNY Mellon worked closely with banks in Greece, Malta, and Italy and was an expert in cotton, gold, silver, and other raw materials financing.

BNY Mellon Bank acquired multiple banks and financial institutions in Pennsylvania during the 1980s and 1990s.

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In 1992, BNY Mellon acquired 54 branch offices of Philadelphia Savings Fund Society, the first savings bank in the United States, founded in 1819.

In 1993, BNY Mellon acquired The Boston Company from American Express and AFCO Credit Corporation from The Continental Corporation.

The following year, BNY Mellon merged with the Dreyfus Corporation, bringing its mutual funds under its umbrella.

The Bank of New York and BNY Mellon Financial entered into mutual stock option agreements for 19.

BNY Mellon won the assignment, which included handling accounting and record-keeping for the program, through a bidding process.

BNY Mellon 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.

BNY Mellon acquired PNC Financial Services' Global Investment Servicing Inc in July 2010 and Talon Asset Management's wealth management business in 2011.

BNY Mellon began a marketing campaign in 2013 to increase awareness of the company that included a new slogan and logo.

In May 2014, BNY Mellon sold its 1 Wall Street headquarters, and in 2015, moved into leased space at Brookfield Place.

BNY Mellon expanded its Hong Kong office in October 2014 as part of the company's plans to grow its wealth management business.

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.

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.

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.

BNY Mellon had owned the office building for over 30 years, with control of the location obtained via 99-year ground lease.

BNY Mellon operates in 35 countries in the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

In 2008, BNY Mellon formed a Board of Directors corporate social responsibility committee to set sustainability goals.

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 May 2015, BNY Mellon agreed to pay $180 million to settle a foreign exchange-related lawsuit.

In December 2017, another lawsuit alleged that BNY Mellon manipulated foreign exchange rates was filed by Sheet Metal Workers' National Pension Fund.

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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.

In December 2016, another major technology issue caused BNY Mellon to be unable to process payments related to the SWIFT network.

BNY Mellon was unable to process payments for a 19 hours, which led to a backlog of payments and an extension of Fedwire payment services.

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.

However, BNY Mellon remains in violation of its agreement, as the lobby must be accessible to the public 24 hours a day.

BNY Mellon settled foreign bribery charges with the U S Securities and Exchange Commission in August 2015 regarding its practice of providing internships to relatives of officials at a Middle Eastern investment fund.

In March 2019, BNY Mellon staff considered legal options after the company banned employees from working from home.

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.

BNY Mellon settled with the state in June 2013 for $34 million.

In July 2012, BNY Mellon settled a class action lawsuit relating to the collapse of Sigma Finance Corp.

In December 2018, BNY Mellon agreed to pay nearly $54 million to settle charges of improper handling of "pre-released" American depositary receipts under investigation of the U S Securities and Exchange Commission .

BNY Mellon did not admit or deny the investigation findings but agreed to pay disgorgement of more than $29.

In 2018, BNY Mellon ranked 175 on the Fortune 500 and 250 on the Financial Times Global 500.

BNY Mellon was the title sponsor of the Oxford and Cambridge Boat Race from 2012 to 2015.

BNY Mellon is a regular sponsor of the Royal Academy of Arts in London.