UPDATE 3-BNY Mellon shares drop on client losses [Reuters (UK)]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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bnymellon.com/us/en/investor-relations/index.jsp
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Source: Reuters
BNY Mellon shares drop on client losses | Reuters 2 Min Read (Reuters) - Bank of New York Mellon Corp’s ( BK.N ) second-quarter outflows more than doubled, as the world’s largest custodian bank said it lost two clients and warned that the departures would impact results in the next few quarters. The company’s shares fell as much as 6 percent on Thursday, their biggest percentage drop in two years. Chief Executive Officer Charles Scharf did not identify the two clients on a conference call with analysts, but said the company was working to add new clients, which would help it mitigate the exits. “While these losses will impact us on a year-over-year basis for the next few quarters, we are also in the process of onboarding several large clients, which will positively impact our results, starting predominantly in the second half of next year,” Scharf said. Total net outflows rose to $26 billion from $10 billion in the first quarter. “Weak revenue growth and outflows in asset management
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- 5/8/24 - Form 144
- BK's page on the SEC website