News Column

BNY Mellon Posts Healthy Returns

July 17, 2013
bny mellon

Bank of New York Mellon Corp. reported net income jumped 79 percent to $818 million from higher fees and investment income.

Results equaled 71 cents a share, compared with 39 cents the year earlier.

"Our solid revenue growth is a reflection of better market conditions in the quarter, as well as our success in collaborating across the company to deliver solutions our clients need," said CEO Gerald Hassell in a statement.

BNY Mellon, the world's largest custody bank, posted healthy increases in investment management and other fees, as well as from gains in equity investments.

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