
Work Here?
Work Here?
Work Here?
BNY Mellon combines traditional asset management, custody, and investment services with digital capabilities. It is building a multi-asset digital platform that links cryptocurrencies and tokenized securities with conventional financial systems, serving individuals, corporations, and institutional clients. Pershing X expands digital capabilities to improve client experiences; the firm earns fees, commissions, and interest income. By integrating ESG factors and partnering with Citi and Verizon, it aims to connect digital innovation with secure, scalable financial services.
Industries
Fintech
Crypto & Web3
Financial Services
Company Size
10,001+
Company Stage
IPO
Headquarters
Town of East Hampton, New York
Founded
1784
See people who can refer or advise you
Help us improve and share your feedback! Did you find this helpful?
Total Funding
$1B
Above
Industry Average
Funded Over
2 Rounds
Health Insurance
Paid Vacation
Paid Sick Leave
Paid Holidays
Flexible Work Hours
Remote Work Options
BNY Mellon, the world's largest custody bank, oversees $62.6 trillion in client assets, primarily from pension funds, mutual funds, and other institutional investors. The bank generated $5.7 billion in revenue in the second quarter, up 13% year over year, with 70% derived from asset custody and servicing fees. Custody banks hold and service assets for large institutional customers, operating with a fee-based business model that generates reliable earnings across market cycles. BNY Mellon's fees increase as asset levels rise through appreciation or net inflows. The bank also earns revenue from investment management and interest income from sweep accounts, where idle client cash is invested in high-yielding instruments. As one of a handful of major custody banks, BNY Mellon benefits from a competitive moat and has been the best-performing bank stock over the past five years.
Custody bank stocks delivered strong second-quarter results, with the 16 companies tracked beating revenue estimates by 3.2% on average. Share prices rose 5.9% on average following the earnings announcements. BNY reported revenues of $5.70 billion, up 13.3% year on year, exceeding analysts' expectations by 5.4%. The stock has risen 4.6% since reporting and currently trades at $161.62. Hamilton Lane posted the strongest performance among peers, with revenues of $275.3 million, up 56.5% year on year, beating estimates by 21%. Its shares have climbed 12.6% since the results were announced. The custody banking sector faces both opportunities from growing global assets and blockchain adoption, and challenges including fee pressure and competition from fintech firms.
Estimated net proceeds are about $692.4 million; the notes yield 6.070% to maturity, while the offering is expected to close Aug. 31 and mature in 2036.
The Bank of New York Mellon Corporation has appointed Vikram Malhotra as an independent director, effective 1 October 2026. The addition brings BNY's board to 12 directors, 11 of whom are independent. Malhotra has been a senior partner at McKinsey & Company since 1998, joining the firm in 1986. During his four-decade career, he has held numerous leadership positions including chairman of the Americas and serving on the firm's shareholders council. He has also led parts of McKinsey's banking and life insurance practices. Malhotra currently serves on the Wharton Advisory Board and the board of Touch Health. He holds an MBA from The Wharton School and a BA in economics from the London School of Economics.
Robin Vince, CEO of America's oldest bank BNY and new OpenAI board member, rates himself a nine out of 10 for AI usage. He says he won't give himself full marks because AI is moving so quickly that using it to its fullest extent feels unattainable. BNY had over 100 "digital employees" in early 2025 before widespread agent adoption. The bank's in-house AI platform, Eliza, connects to employee feedback processes and provides daily coaching. It understands Vince's calendar, emails, and documents, offering advice on how to approach his day. Vince highlights AI's ability to see patterns across the entire 46,000-employee organisation and make recommendations that no single person could. He declined to comment on OpenAI's potential IPO, having joined the board only two weeks prior.
Find jobs on Simplify and start your career today
Industries
Fintech
Crypto & Web3
Financial Services
Company Size
10,001+
Company Stage
IPO
Headquarters
Town of East Hampton, New York
Founded
1784
Find jobs on Simplify and start your career today