BNY Mellon - reported net income of $ 830mn , up 10 % YoY , beating estimates due to the bank reacting to pressure from activist hedge funds to cut costs and boost profit . However , the bank 's CEO , Gerald Hassell , said that he expects higher regulatory scrutiny and more expenses from bringing new investors on board during the second half of the year .
BNY Mellon - 2Q net income of $830mn, up 50% YoY, beating estimates due to the bank reacting to pressure from activist hedge funds to cut costs and boost profit. However, the bank's CEO, Gerald Hassell, said that he expects higher regulatory costs and more expenses from bringing new clients on board during the second half of the year.