BNY Mellon's 4th-qtr profit surged 23 percent on performance fees

BOSTON Wed Jan 16, 2013 6:36am EST

BOSTON Jan 16 (Reuters) - BNY Mellon Corp said on Wednesday fourth-quarter earnings rose 23 percent, matching Wall Street estimates, as the world's largest custody bank got a lift from investment management and performance fees.

BNY Mellon's net income was $622 million, or 53 cents a share, compared with $505 million, or 42 cents a share, in the year-ago period. That matched the consensus estimates of analysts, according to Thomson Reuters I/B/E/S.

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