BNY, whose legal name is The Bank of New York Mellon Corporation, is a financial services company that holds, moves and manages money and securities for other institutions and wealth clients. Its customers include investment managers, banks, corporations, governments, pension plans and wealthy individuals. It is based in New York and has been in business since 1784. At the end of 2025 it had $59.3 trillion in assets under custody and/or administration, which means assets it safeguards or services for clients, and $2.2 trillion in assets under management, which are assets it invests for clients.
It reports three segments. Securities Services handles asset servicing, such as custody and fund accounting, and issuer services, such as corporate trust and depositary receipts. Market and Wealth Services includes Pershing, which provides clearing and other services to brokers and advisors, plus payments, trade and collateral management. Investment and Wealth Management runs asset management and wealth management for individuals and families. An Other segment covers treasury activities and corporate investments.
BNY earns much of its revenue from fees for these services. It had approximately 48,100 full-time employees at the end of 2025, and about 60% of its employees were based outside the U.S. It competes with domestic and international financial services firms, asset managers, trust banks and technology service providers.