BNY Mellon

BNY (The Bank of New York Mellon Corporation) stands as America's oldest bank and a global leader in financial services, with a remarkable history spanning over 240 years. Founded by Alexander Hamilton in 1784 to help New York rebuild after the Revolutionary War, the Bank of New York became the first company listed on the New York Stock Exchange in 1792. Today, as BNY, the institution has evolved into the world's largest custody bank, overseeing an astounding $52.1 trillion in assets under custody and administration and $2.0 trillion in assets under management as of December 31, 2024.

The modern BNY was formed through the merger of Bank of New York and Mellon Financial Corporation on July 1, 2007, in a deal valued at $16.5 billion. This combination created a global powerhouse that serves over 90% of Fortune 100 companies and nearly all the top 100 banks worldwide. The company is ranked as the sixth-largest investment management firm globally and the seventh-largest wealth management firm in the United States. With over 50,000 employees operating across 140 office locations in 35 countries on six continents, BNY maintains a dedicated business presence spanning the globe.

BNY's business model encompasses comprehensive financial services across asset servicing, custody and securities services, treasury services, clearance and collateral management, and investment management. The company operates through several key business segments including BNY Pershing (clearing and custody services), BNY Investments (asset management with nearly $2 trillion in assets), and BNY Wealth (wealth management services). In 2024, BNY delivered record financial performance with net income of $4.3 billion on record revenue of $18.6 billion, achieving a return on tangible common equity of 23%. The company ranks 130th on the Fortune 500 list and stands as the 13th-largest bank in the United States by total assets.

In recent years, BNY has positioned itself at the forefront of financial innovation. In June 2024, the company announced a significant rebranding initiative, simplifying its corporate brand from "BNY Mellon" to "BNY" and updating its logo to reflect a more modern, streamlined identity. The company has made substantial investments in artificial intelligence, deploying an enterprise AI platform called "Eliza" (named after Alexander Hamilton's wife) that provides employees with a marketplace of AI solutions and approved datasets. BNY increased the number of AI solutions deployed by 75% during the third quarter of 2024 and formed a strategic partnership with OpenAI in 2025 to integrate advanced AI capabilities throughout its operations. Additionally, in July 2023, BNY became an early adopter of the Federal Reserve's FedNow instant payment rail, demonstrating its commitment to advancing the U.S. payment system.

BNY's market position is unparalleled in the custody banking sector, where it competes with other major institutions including State Street Corporation, Northern Trust, and JPMorgan Chase. As the trusted partner to governments funding local projects and working with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, BNY plays a critical role in the global financial infrastructure. The company's enduring success over more than two centuries reflects its ability to continuously evolve while maintaining the foundational principles of trust, security, and excellence that Alexander Hamilton established at its founding.