BNY Mellon has today released Q1 financial results which showed that FX fee revenue was up from $126 Million in Q3 2013, to $130 million during last quarter, an increase of $4 million or 3% of the quarter before.
With nearly $27.9 trillion of assets in custody as of March 31, 2014, and $1.6 trillion in assets under management (AUM), the Bank of New York Mellon Corporation (BNY Mellon) has today reported its Q1 financial results, with net revenue of $661 million for the first quarter of 2014, from total GAAP revenue of $3.46 billion, during that time.
From BNY Mellon's total revenue, $2.86 billion was attributed to total fee revenue (investment fees), and up 3% from $2.77 billion in the quarter before. From the total fee revenue segment, Foreign Exchange fee revenues totaled $130 million during Q1 2014. This number grew 3% over Q4 2013, from $126 million to $130 million, quarter-over-quarter, and from a year-over-year comparison FX volumes dipped 13% from $154 million from Q1 2013, to the $130 million reported today for the first quarter of 2014, according to the official press release earlier this morning in New York.
Comparisons with both prior periods, for the bank’s FX business, were described as impacted by lower volatility, and higher volumes driven by enhancements to its electronic foreign Exchange platform.
Commenting in the official press release, Gerald L. Hassell, chairman and chief executive officer of BNY Mellon said, “Investment Management and Investment Services fees increased 3 percent and we managed our expenses well, resulting in pretax earnings growth of 12 percent year over year. Our performance benefitted from strength in Clearing Services, the eighteenth consecutive quarter of positive long-term inflows in Investment Management and the growing contribution from our Global Collateral Services and electronic foreign exchange initiatives.”
Mr. Hassell added with regards to the effects on shareholder value, “The earnings power and strength of our business model allowed us to announce a capital plan that includes share repurchases of up to $1.74 billion, an increase of nearly 30 percent from the prior year’s board authorization, and a 13 percent increase in the quarterly dividend,” and concluded with the impact that regulatory changes have had on the bank's strategy, “The management team is focused on actively realigning the business model for the new regulatory environment, controlling expenses and generating strong returns on tangible common equity.”
Shares of BNY Mellon on the NYSE under ticker symbol BK were up nearly two-tents of a percent to $33.76 per share, around time of publication by Forex Magnates.
Swedish Regulator Finansinspektionen warns against BNY Mellon clone
A day after the earnings results were announced the Swedish regulatory authority Finansinspektionen issued a warning against a clone company which presents itself as BNY Mellon Wealth Management. The statement issued by the regulator detailed that alleged representatives of the firm have been calling Swedish investors and offering advice on US stocks.
The perpetrators of the unsolicited phone calls have been referring to a US regulatory authority in an attempt to gain credibility. The entity has been using an address in the US:
701 Westchester Avenue White Plains, NY 10604 Tel: +1 609 543 6551 Fax: +1 202 403 3838 E-mail: info.bnymellon@usa.com www.bnymellon.com/wealthmanagement
The Swedish regulatory authority reminds the public that the entity has no affiliation with the Bank of New York Mellon Corporation and fraudsters are normally using the details of an authorised company to gain credibility and try to convince people that they work for a genuine, regulated company. By using a 'clone of authorised firm' some entities are trying to manipulate investors into entrusting their funds to phoney companies or might as well be speculating with some penny stocks.
With nearly $27.9 trillion of assets in custody as of March 31, 2014, and $1.6 trillion in assets under management (AUM), the Bank of New York Mellon Corporation (BNY Mellon) has today reported its Q1 financial results, with net revenue of $661 million for the first quarter of 2014, from total GAAP revenue of $3.46 billion, during that time.
From BNY Mellon's total revenue, $2.86 billion was attributed to total fee revenue (investment fees), and up 3% from $2.77 billion in the quarter before. From the total fee revenue segment, Foreign Exchange fee revenues totaled $130 million during Q1 2014. This number grew 3% over Q4 2013, from $126 million to $130 million, quarter-over-quarter, and from a year-over-year comparison FX volumes dipped 13% from $154 million from Q1 2013, to the $130 million reported today for the first quarter of 2014, according to the official press release earlier this morning in New York.
Comparisons with both prior periods, for the bank’s FX business, were described as impacted by lower volatility, and higher volumes driven by enhancements to its electronic foreign Exchange platform.
Commenting in the official press release, Gerald L. Hassell, chairman and chief executive officer of BNY Mellon said, “Investment Management and Investment Services fees increased 3 percent and we managed our expenses well, resulting in pretax earnings growth of 12 percent year over year. Our performance benefitted from strength in Clearing Services, the eighteenth consecutive quarter of positive long-term inflows in Investment Management and the growing contribution from our Global Collateral Services and electronic foreign exchange initiatives.”
Mr. Hassell added with regards to the effects on shareholder value, “The earnings power and strength of our business model allowed us to announce a capital plan that includes share repurchases of up to $1.74 billion, an increase of nearly 30 percent from the prior year’s board authorization, and a 13 percent increase in the quarterly dividend,” and concluded with the impact that regulatory changes have had on the bank's strategy, “The management team is focused on actively realigning the business model for the new regulatory environment, controlling expenses and generating strong returns on tangible common equity.”
Shares of BNY Mellon on the NYSE under ticker symbol BK were up nearly two-tents of a percent to $33.76 per share, around time of publication by Forex Magnates.
Swedish Regulator Finansinspektionen warns against BNY Mellon clone
A day after the earnings results were announced the Swedish regulatory authority Finansinspektionen issued a warning against a clone company which presents itself as BNY Mellon Wealth Management. The statement issued by the regulator detailed that alleged representatives of the firm have been calling Swedish investors and offering advice on US stocks.
The perpetrators of the unsolicited phone calls have been referring to a US regulatory authority in an attempt to gain credibility. The entity has been using an address in the US:
701 Westchester Avenue White Plains, NY 10604 Tel: +1 609 543 6551 Fax: +1 202 403 3838 E-mail: info.bnymellon@usa.com www.bnymellon.com/wealthmanagement
The Swedish regulatory authority reminds the public that the entity has no affiliation with the Bank of New York Mellon Corporation and fraudsters are normally using the details of an authorised company to gain credibility and try to convince people that they work for a genuine, regulated company. By using a 'clone of authorised firm' some entities are trying to manipulate investors into entrusting their funds to phoney companies or might as well be speculating with some penny stocks.
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
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