Here are 1-3 brief analogies to describe Bank of New York Mellon (BK):

• The Amazon Web Services (AWS) for financial assets and transactions.
• The Intel of the financial world.
• The UPS or FedEx for global financial assets and payments.

• Asset Servicing: Provides custody, fund administration, accounting, and related services for institutional investors globally.
• Investment Management: Manages a wide range of investment strategies and products for institutional and individual clients.
• Treasury Services: Offers global payments, cash management, and trade finance solutions for corporations and financial institutions.
• Clearing and Collateral Management: Delivers clearing services for broker-dealers and collateral management solutions for derivatives and securities lending.
• Wealth Management: Provides comprehensive financial planning, private banking, and investment advisory services to high-net-worth individuals and families.

Bank of New York Mellon (BK) primarily serves institutional clients, making its business model predominantly business-to-business (B2B). Due to the confidential nature of client relationships in the financial services industry, Bank of New York Mellon does not publicly disclose the names of its specific major customer companies.

However, its major customers can be broadly categorized into the following types of entities:

• Asset Managers and Investment Funds: This category includes a wide array of institutional investment firms globally, such as mutual funds, hedge funds, private equity funds, pension funds, sovereign wealth funds, and other institutional asset managers. These clients leverage BNY Mellon for critical services like global custody, fund administration, transfer agency, and middle-office outsourcing.
• Corporations: Large multinational corporations utilize BNY Mellon for a comprehensive suite of treasury services, including payment processing, foreign exchange, liquidity management, and corporate trust services (e.g., bond administration for debt issuance).
• Financial Institutions: This segment encompasses other banks, broker-dealers, and insurance companies that rely on BNY Mellon for services such as clearing, settlement, correspondent banking, and collateral management.
• Government Entities and Public Institutions: This category includes central banks, government agencies, and other public-sector organizations that use BNY Mellon for various financial and asset servicing needs.

• Alphabet Inc. (GOOGL)
• Microsoft Corp. (MSFT)
• FIS (FIS)
• Infosys Ltd. (INFY)
• London Stock Exchange Group

Robin Vince, President and Chief Executive Officer
Robin Vince was appointed Chief Executive Officer of BNY Mellon in August 2022, having joined the company in 2020. Prior to becoming CEO, he served as Vice Chair and CEO of Global Market Infrastructure, overseeing various businesses including Clearance and Collateral Management, Treasury Services, Markets and Execution Services, and Pershing. Before joining BNY Mellon, Mr. Vince had a distinguished 26-year career at Goldman Sachs, where he held significant leadership positions such as Chief Risk Officer, Treasurer, Head of Operations, Head of Global Money Markets, Chief Operating Officer of the EMEA region, and CEO of Goldman Sachs International Bank. There is no readily available information indicating that Mr. Vince founded or sold other companies, or has a pattern of managing companies backed by private equity firms.

Dermot McDonogh, Senior Executive Vice President and Chief Financial Officer
Dermot McDonogh was appointed Chief Financial Officer of BNY Mellon, effective February 1, 2023, joining the company in November 2022. In this role, he is responsible for the company's global financial strategy and operations. Before his tenure at BNY Mellon, Mr. McDonogh spent over 25 years at Goldman Sachs, where his most recent roles included Chief Operating Officer for EMEA and Chief Executive Officer of Goldman Sachs International Bank. His experience at Goldman Sachs also included serving as the firm's International Controller and starting as a product controller in the Finance Division in 1994. There is no readily available information indicating that Mr. McDonogh founded or sold other companies, or has a pattern of managing companies backed by private equity firms.

Jose M. Minaya, Global Head, Investments and Wealth
Jose M. Minaya serves as the Global Head of Investments and Wealth for BNY Mellon.

Senthil Kumar, Senior Executive Vice President and Chief Risk Officer
Senthil Kumar holds the position of Senior Executive Vice President and Chief Risk Officer at BNY Mellon.

The Bank of New York Mellon (BK) faces several key risks inherent to its position as a global banking and financial services company.

1. Legal and Regulatory Risks: As a major financial institution operating globally, BNY Mellon is subject to a complex and evolving regulatory landscape. The company faces significant risks related to compliance with banking regulations, anti-money laundering (AML) requirements, and other financial reporting obligations. Non-compliance can lead to substantial litigation and legal liabilities, increased expenses, and reputational damage, as evidenced by past charges from the SEC regarding misstatements on ESG considerations.
2. Cybersecurity and Technology Risks: Given its extensive digital operations and role as the world's largest custodian bank and asset servicing company, BNY Mellon is highly susceptible to cybersecurity threats. Risks include cyberattacks, data breaches, and vulnerabilities in technology systems, which could compromise digital assets, disrupt operations, and erode client trust.
3. Interest Rate Volatility and Economic Conditions: BNY Mellon's financial performance is significantly influenced by fluctuating interest rates and broader global economic uncertainty. The firm's substantial reliance on net interest income makes it vulnerable to changes in monetary policy and interest rate environments, which can impact earnings from custodial deposits and sweep accounts. Global economic downturns and geopolitical tensions also pose risks to its international operations and overall financial services performance.

The accelerating adoption of distributed ledger technology (DLT) and the tokenization of traditional assets presents an emerging threat by potentially disintermediating traditional custody, clearing, and settlement services. If institutional financial markets increasingly move towards direct, peer-to-peer settlement on blockchain-based platforms, the demand for conventional intermediary roles could diminish, leading to fee compression and a fundamental shift in the market structure that BNY Mellon currently underpins.

Bank of New York Mellon (BK) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

• Growth in Net Interest Income (NII): The company anticipates mid-single-digit to double-digit growth in net interest income for 2025. This growth is expected to be fueled by the reinvestment of maturing securities at higher yields and overall balance sheet expansion.
• Expansion of Fee Revenue: BNY Mellon is strategically focused on increasing fee-based revenue, particularly within its Investment Services and Market & Wealth Services segments. This growth is projected to come from new business, favorable market conditions, and rising client demand for specialized services such as ESG (Environmental, Social, and Governance) and regulatory reporting solutions. The Securities Services segment, in particular, is identified as a significant and fast-growing revenue contributor.
• Technology and Platform Modernization: Significant investments in digital transformation, including the integration of artificial intelligence (AI) platforms like "Eliza" and the expansion into digital assets and blockchain initiatives, are expected to drive efficiency and unlock new revenue streams. Strategic acquisitions, such as the late 2024 acquisition of Archer to enhance its digital asset custody platform, also contribute to this technology-driven growth. The company's ongoing platform transformation aims to reorganize its business around client-centric platforms, improving operational agility, cost efficiency, and scalability to support overall revenue growth.

Share Repurchases

• In April 2024, BNY Mellon's board of directors authorized a new common share repurchase program of $6 billion.
• During the first half of 2024, the company repurchased $1.6 billion in common shares.
• As of March 31, 2025, approximately $4.6 billion remained available under the April 2024 share repurchase authorization.

Share Issuance

• In November 2021, BNY Mellon priced a public offering of $1.3 billion of depositary shares, representing interests in its Series I Noncumulative Perpetual Preferred Stock.
• For the trailing twelve months ended June 2025, the company reported $18 million in issuance of stock.

Outbound Investments

• In November 2024, BNY Mellon acquired Archer, a technology-driven managed account solutions provider.
• In September 2024, the company announced its plans to launch Alts Bridge.
• In 2021, through a subsidiary, BNY Mellon acquired Optimal Asset Management.

Capital Expenditures

• For the trailing twelve months ended June 2025, capital expenditures amounted to $18 million.
• In 2024, the company increased investments in new client solutions, technology, and people as part of its multi-year transformation program.
• The primary focus of capital allocation includes wealth technology, real-time payments, the future of collateral and liquidity, and developing an open platform for comprehensive client solutions.