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Press Release :: Bank of New York Mellon

Logo Bank of New York MellonThe Bank of New York Mellon Corporation today reported third quarter income from continuing operations applicable to common shareholders of $625 million, or $0.51 per common share, compared with a loss of $2,439 million, or $2.04 per common share, in the third quarter of 2009 and income of $668 million, or $0.55 per common share, in the second quarter of 2010.

"During the quarter, we successfully completed the GIS and BHF Asset Servicing acquisitions. The acquisitions, combined with the underlying resilience of our business model, helped to offset weakness in the capital markets. The strength of our balance sheet and meaningful capital generation position us well to meet the proposed new capital standards," said Robert P. Kelly, chairman and chief executive officer of BNY Mellon.
  • Record Level of Assets Under Management of $1.14 Trillion, Up 18% vs. Prior Year.
  • Continued Strong Flows in Third Quarter in Asset and Wealth Management.
    • $11 Billion of Net Long-Term Inflows.
    • $18 Billion of Net Short-Term Inflows.
  • Record Level of Assets Under Custody/Administration of $24.4 Trillion, Up 10% vs. Prior Year.
  • Securities Servicing Fees Benefited From Acquisitions and New Business Growth.
  • Post Acquisitions - Tier 1 12.2%, Tier 1 Common 10.7%.
Third Quarter Results - Unless otherwise noted, all comments begin with the results of the third quarter of 2010 and are compared to the third quarter of 2009, all information is reported on a continuing operations basis and sequential growth rates are unannualized. Please refer to the Quarterly Earnings Review for a detailed review of our businesses.

Third Quarter 2010 Results (PDF, 74 Kb).

Source: Bank of New York Mellon
Date: 19.10.2010
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