Bank of New York Mellon Corp. said its profit declined in the third quarter as the asset-manager reported a drop in fee revenue and came up against a tough comparison from the year-earlier period. As a custody bank, BNY Mellon derives a major portion of its business from serving trillions in assets for money managers and other clients, as well as managing investments for its clients. The...
BNY 2014 - estimated 2015 net income of $ 820 m , down 23 % YoY , but lower estimates . However , the bank stated that its cost - cutting process was hampered by a summertime financial crisis that forced it to compensate clients .