BNY Mellon (BK) Plans to Divest Canada Unit to Computershare [Yahoo! Finance]
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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US:NYSE Investor Relations:
bnymellon.com/us/en/investor-relations/index.jsp
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Source: Yahoo! Finance
The deal, expected to be completed in the second quarter of 2024, is still subject to customary and regulatory approvals. Notably, the financial terms of the transaction were not revealed. The divestiture is in alignment with BNY Mellon's strategic focus to gain a foothold in foreign markets outside Canada, while for Computershare, the deal fits within its core strategy to enhance the footprint and scale of corporate trust business within North America. BNY Trust Company of Canada, formed in 2001 and based in Toronto, offers a diverse range of trust and agency services to a broad range of clients, including issuers, corporations, banks and government entities within Canada. It has a portfolio of roughly 1,800 corporate trust mandates. Per the agreement, all the pertinent staff members are expected to transition to Computershare and will operate from the Toronto office. This will be undertaken by both entities to ensure a smooth transition of business and employees. Cecile Nage
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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