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May 28, 2015 4:53 AM ET

Banks

Company Overview of The Bank of New York Mellon, Inc.

Company Overview

The Bank of New York Mellon, Inc. provides commercial banking and other financial services to corporations and individuals. The bank engages in six core businesses: securities servicing, global payment services, asset management and private client services, corporate banking, global market services, and retail banking. The Bank of New York Mellon, Inc. was formerly known as The Bank of New York, Inc. and changed its name to The Bank of New York Mellon, Inc. in July, 2008. The company was founded in 1784 and is based in New York, New York. The Bank of New York Mellon, Inc. operates as a subsidiary of The Bank of New York Mellon Corporation.

One Wall Street

New York, NY 10286

United States

Founded in 1784

Phone:

212-495-1784

Fax:

212-635-1799

Key Executives for The Bank of New York Mellon, Inc.

Chairman, Chief Executive Officer and President
Age: 62
Chief Financial Officer
Age: 57
Chief Executive Officer of Treasury Services and Vice President
Chief Executive Officer of Corporate Trust
Head of Corporate Development and Managing Director
Compensation as of Fiscal Year 2014.

The Bank of New York Mellon, Inc. Key Developments

Bank of New York Mellon Announces Interim Dividend, Payable on October 09, 2014

Bank of New York Mellon announced interim net dividend of $0.5, payable on October 09, 2014 with record date of August 22, 2014.

Bank of New York Mellon Announces Interim Net Cash Dividend, Payable on October 10, 2014

Bank of New York Mellon announced interim net cash dividend of $0.68919, payable on October 10, 2014 with record date of September 22, 2014 and ex date of September 18, 2014 .

Blackrock, PIMCO Sue Six Trustees over Mortgage Securities Losses

Filed in the New York State Supreme Court, the lawsuits alleges that the trustees, including Deutsche Bank, HSBC, US Bancorp, Citibank, Wells Fargo, and Bank of New York Mellon, failed to properly oversee payments and enforce terms on more than $2 trillion in residential mortgage-backed securities. The trustees are claimed to have breached their duties to protect investors by failing to force lenders and sponsors of the securities to repurchase the loans that failed to meet the quality standard previously described to potential buyers. A complaint against Citibank says the bank was aware of 'industrywide abandonment of underwriting guidelines' for the loans, while the lawsuit against BNYM alleges that the trustee and its responsible officers knew of pervasive, material breaches of originators, 'yet did nothing to protect the trusts. A person familiar with the lawsuits was quoted by Reuters as saying that the investors are seeking damages for losses that surpassed $250 billion and relate to more than 2,200 residential mortgage-backed securities trusts issued between 2004 and 2008. The lawsuits address bonds that were not included in the previous $8.5 billion and $4.5 billion settlements reached with Bank of America and JPMorgan Chase, respectively, over mortgage-backed securities. Apart from BlackRock and PIMCO, the lawsuits were also filed on behalf of Charles Schwab, DZ Bank and other institutional investors, including Bernstein Litowitz Berger & Grossmann. Meanwhile, spokesmen for all defendants refused to comment on the lawsuits, while Blackrock and PIMCO public affairs also failed to immediately respond to a request for comments.

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