What is BNY Mellon?
BNY Mellon is short for The Bank of New York Mellon Corporation, a banking and investment management firm based in the US. Â Its main office is located in New York’s Wall Street and offers various banking and financial services to its global customers. Â The company is known to be the US’ oldest bank and the largest bank in the world in terms of deposits with total assets declared at 374 billion in US dollars.
As a corporation, BNY Mellon was founded in 2007 with the merger of two big financial institutions in the US namely Bank of New York and Mellon Financial of Pittsburgh, Pennsylvania. The Bank of New York itself was founded as early as 1784 making it the oldest banking corporation in the US. Â Mellon Financial meanwhile was founded in 1869 and was originally called T. Mellon & Sons’ Bank. The two banks became successful individually over several decades and were eventually merged in 2007 to form America’s biggest financial institution in terms asset management and security servicing. Â In terms of asset management, BNY Mellon is one of the world’s top 10 banks with a total of around 160 billion in client assets.
BNY Mellon is a global banking institution with around 50,000 employees spread across the US and 34 other countries in 6 different continents. The company offers investment services, wealth management, and investment management, clearing and treasury assistance among many other services. The company’s basic promise to its customers is to help them make the most of their wealth or investments through their various financial services. By banking with BNY Mellon, customers expect that every financial transaction is made transparent with maximized liquidity and earning potential. Â With decades of experience, BNY Mellon is considered one of the world’s best banks in offering financial services that can be tailored to the specific needs of their clients.