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Bank of New York Mellon bets on technology, continues focus on LDI [Seeking Alpha]

BANK of NEW YORK MELLON (BK)  More Company Research Source: Seeking Alpha
Last bank of new york mellon earnings: 7/19 06:30 am Check Earnings Report
PDF Bank of New York Mellon bets on technology, continues focus on LDIThe 2018 strategy being presented atinvestor day today focuses on growing the LDI business, expanding alternative & passive investing capabilities, and restructuring the traditional active management business.The custodial bank is investing $300M in technology initiatives this year, connecting data science to enhance investment processes.Bank of New York Mellon (NYSE:BK) projects Q1 2018 net interest revenue to be up 12-14%, investment income growth of $60M to $70M, securities losses of $50M, and operating expense growth of 5% including a foreign currency translation loss of 2%. The bank expects a 21% effective tax rate for the full year.Previously:BNY Mellon's Scharf aims to modernize the company (March 7)Click to subscribe to real-time analytics on BKNow read:The Chemist's Quality CEF Report - January 2018 » [Read more]

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