The Bank`s main tasks are managing and monitoring the investments of wealthy institutions and individuals. [13] Its two main companies are Investment Services and Investment Management[70] which provide services for every stage of the investment, from inception to trading, holding, management, distribution and restructuring. [71] [72] Among the bank`s clients are 80 per cent of Fortune 500 companies. [73] The company also serves 77 per cent of the top 100 foundations, 87 per cent of the 1,000 largest pension and worker assistance funds, 51 per cent of the top 200 health insurance funds and 50 per cent of the top 50 universities. [74] Charles W. Scharf was appointed CEO in July 2017 and became president after the retirement of former CEO and President Gerald Hassell at the end of 2017. [84] [85] Hassell has been President and CEO since 2011, having been President of BNY Mellon[85] from 2007 to 2012 and from 1998 until its merger. Scharf resigned in 2019 and became the new CEO of Wells Fargo. Thomas «Todd» Gibbons took over the new CEO in 2020. [86] BNY Mellon`s wealth management department handles private banking, real estate planning, family office services, and the investment and management department of wealthy individuals and families. [66] [83] In 2014, it ranked 7th among asset management companies in the United States.

Starting in 2013, the unit began to expand, including the opening of eight new banking offices, an increase in the number of salespeople, bankers and portfolio managers in staff, and the launch of an asset management awareness campaign through television advertising. [83] In 2005, the bank conducted a U.S. federal investigation that began in 1996 for money laundering as part of the post-Soviet privatization in Russia. The illegal operation involved two Russian emigrants, one of whom was the bank`s vice president and was carrying more than $7 billion on hundreds of sons. [23] [24] In September 2018, the company began providing public access to part of the lobby. [131] However, BNY Mellon continues to violate its agreement, as the lobby must be open to the public 24 hours a day. [132] Bank of New York was the first company to be traded on the New York Stock Exchange when it opened in 1792. In 1796, the bank moved to the corner of Wall Street and De William Street, which later became 48 Wall Street.

[8] In 1988, bank of New York merged with Irving Bank Corporation after a hostile one-year takeover bid from the Bank of New York. [20] Irving had its headquarters on Wall Street 1 and became the headquarters of the Bank of New York after the merger. [21] For Mellon, the merger gives Mr. Kelly the reins on a larger and more comprehensive matter. With a market capitalization of $43 billion, the merged entity will be the 11th largest financial institution in the country. It will generate more than $12 billion in revenue, more than 25% of which comes from overseas. For both institutions, the agreement is also a kind of reversal of happiness. Eight years ago, the Bank of New York attempted to buy Mellon with an unsolicited offer that was quickly rejected. Yesterday, Mellon sat in the driver`s seat and introduced the chairman of the new bank`s board of directors.

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