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Bank of New York Mellon Corp (BK)

BK on New York Consolidated

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29 Jul 2016
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Latest Key Developments (Source: Significant Developments)

BNY Mellon announces pricing of offering of $1 bln of depositary shares
Monday, 25 Jul 2016 08:20pm EDT 

Bank Of New York Mellon Corp : Bny Mellon announces pricing of public offering of $1 billion of depositary shares representing interests in preferred stock .Priced underwritten public offering of 1 million depositary shares at public offering price of $1,000 per depositary share.  Full Article

BNY Mellon announces pricing of offering of $1 bln of depositary shares
Monday, 25 Jul 2016 06:10pm EDT 

Bank Of New York Mellon Corp : Bny Mellon announces pricing of public offering of $1 billion of depositary shares representing interests in preferred stock .Priced underwritten public offering of 1 million depositary shares at public offering price of $1,000 per depositary share.  Full Article

Trian Fund Management's Edward Garden buys shares of Bank Of New York Mellon
Monday, 25 Jul 2016 05:56pm EDT 

Bank of New York Mellon Corp : Trian Fund's Edward Garden, who is also on the board of Bank Of New York Mellon, purchased the shares at price ranges between $38.64 to $39.01 .Trian Fund Management's Edward Garden reports open market purchase of 152,000 shares of Bank Of New York Mellon At $38.86 Each On 22 July - SEC filing.  Full Article

BNY Mellon announces public offering of depositary shares
Monday, 25 Jul 2016 09:08am EDT 

Bank Of New York Mellon Corp : Intends to use a portion of net proceeds from sale of depositary shares to repurchase up to $560 million of its common stock . Bny mellon announces public offering of depositary shares representing interests in preferred stock .Public offering of depositary shares with a liquidation preference of $100,000 per share.  Full Article

BNY Mellon reports Q2 adjusted non-GAAP earnings per share $0.76
Thursday, 21 Jul 2016 06:30am EDT 

Bank Of New York Mellon Corp : BNY Mellon reports second quarter earnings of $825 million or $0.75 per common share . Q2 adjusted non-GAAP earnings per share $0.76 . Q2 earnings per share view $0.75 -- Thomson Reuters I/B/E/S . Qtrly provision for credit losses was a credit of $9 million . Says net long-term outflows of $5 billion in 2Q 16 were driven by index investments . Q2 interest revenue down $12 million driven by negative impact of interest rate hedging activities, higher premium amortization adjustments . Qtrly total revenue was $3.8 billion, a decrease of 3%, or 2% on an adjusted basis . Announces capital plan that includes share repurchases of up to $2.7 billion, and about 12 percent increase in quarterly dividend . Says aum of $1.66 trillion at quarter-end decreased 2% reflecting net outflows primarily in 2015 . Says net short-term inflows totaled $4 billion in 2q16 .Q2 revenue view $3.79 billion -- Thomson Reuters I/B/E/S.  Full Article

BNY Mellon to repurchase up to $2.7 bln of common stock
Wednesday, 29 Jun 2016 04:48pm EDT 

Bank Of New York Mellon Corp : 2016 capital plan also includes about 12 percent increase to BNY Mellon's qtrly cash dividend on common stock to $0.19/share . Board has approved repurchase of up to $2.14 billion of its common stock over a four-quarter period starting in q3 of 2016 . Repurchase of upto additional about $560 million of common stock during portion of period covered by repurchase plan . Additional repurchase of common stock contingent upon company issuing $750 million of preferred stock .BNY Mellon to repurchase up to $2.7 billion of common stock; federal reserve does not object to 2016 capital plan, including proposed dividend increase.  Full Article

Trian Fund's Edward Garden buys 370,000 shares of Bank of New York Mellon
Wednesday, 8 Jun 2016 05:53pm EDT 

: Trian Fund Management's Edward Garden reports purchase of 370,000 shares of Bank of New York Mellon Corp's common stock on June 6 at $42.39 each .Trian Fund Management's Garden, who is also on board of Bank of New York Mellon purchased the shares in a price range between $41.73 to $42.61.  Full Article

CIBC Mellon says president and CEO Thomas Monahan to retire
Friday, 20 May 2016 11:30am EDT 

CIBC Mellon : CIBC Mellon says president and ceo, thomas monahan , has decided to retire .Leadership transition plan led by cibc mellon's boards of directors is underway.  Full Article

Bank Of New York Mellon Corp must face lawsuit over $1.12 bln mortgage loss - Reuters
Thursday, 3 Mar 2016 01:44pm EST 

Bank Of New York Mellon Corp:Bank of New York Mellon Corp must face a lawsuit seeking to hold it liable for causing $1.12 billion of investor losses by failing to properly monitor five trusts backed by toxic residential mortgages, a Manhattan federal judge ruled. - RTRS.U.S. District Judge Gregory Woods said Belgium's Royal Park Investments SA/NV may pursue claims that the bank.as trustee for trusts dating from 2005 to 2007, ignored widespread, systemic abuse in how the underlying loans were underwritten and serviced, and failed to require that bad loans be repurchased."Indeed," Woods wrote in his decision on Wednesday, "it would be implausible to assume that somehow all of the mortgage loans underlying the trusts miraculously avoided the pervasive practices of the industry at the time." The judge let Royal Park pursue claims including breach of contract, breach of trust, and violations of the federal Trust Indenture Act.Some other claims were dismissed. Royal Park contended that Bank of New York breached its duties in part out of fear it might anger or lose business from other financial services companies in retaliation.  Full Article

Bank of New York Mellon Corporation to buy assets of Atherton Lane Advisers
Wednesday, 20 Jan 2016 04:01pm EST 

Bank of New York Mellon Corporation:To buy assets of Atherton Lane Advisers.Terms of the deal were not disclosed.Upon completion of the transaction, Atherton will become part of BNY Mellon Wealth Management.  Full Article

BRIEF-BNY Mellon announces pricing of offering of $1 bln of depositary shares

* Bny Mellon announces pricing of public offering of $1 billion of depositary shares representing interests in preferred stock