November 13, 2014 / 5:20 PM / 5 years ago

Activist hedge fund Marcato takes stake in BNY Mellon-filing

BOSTON, Nov 13 (Reuters) - Hedge fund Marcato Capital Management has bought a 1.6 percent stake in the Bank of New York Mellon, becoming the second prominent activist investor in recent months to disclose a position in the world’s largest custody bank, according to a regulatory filing.

San Francisco-based Marcato’s stake is valued at $688 million, making it the biggest position of the $3 billion firm, according to the filing, which details holdings at the end of the third quarter.

Marcato’s announcement comes just months after activist investor Nelson Peltz’ Trian Partners said in June that it had taken a position valued at $1.05 billion stake in the company and wanted to talk to management about improving shareholder value. (Reporting by Svea Herbst-Bayliss, editing by G Crosse)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below