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...Mellon acquired three-quarters of the London-based boutique asset manager in 1996 before purchasing the remaining chunk of the business in 2002....
...According to the Leadenhall lawsuit, filed in a federal court in New York last week, Wander pledged more than $350mn in assets that “either did not exist, were not actually owned by Wander’s entities, or...
...The New York-based company estimated it earned net income of about $2.7bn in the quarter, giving it a net profit margin of more than 60 per cent....
...fairness of the proceeding is of paramount public importance,” the US Trustee wrote....
...BNY Mellon has been hit by more than $900mn in investment markdowns, litigation and costs related to a Federal Deposit Insurance Corporation assessment, as the last vapours of last year’s banking crisis...
...While BNY Mellon had total net inflows of $17bn for the quarter, they were countered by $20bn outflows from active equities and index funds....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...S&C lawyers had assisted the company in the chaotic days leading up to its bankruptcy filing — including preparing its petition and appointing Ray, a restructuring expert its lawyers knew well, as its new...
...Truly, ‘tis but a scratch, except to the status of New York as an international centre of finance and commerce....
...Alumni pressure helped trigger a shake-up leading to the resignation of Scott Bok as chair of the board of trustees, and the departure of Liz Magill as president after she struggled at a congressional hearing...
...,” said Ben Slavin, global head of ETFs at BNY Mellon Asset Servicing....
...to act as a trustee in place of the deceased trustee....
...Separately, the Costume Institute Benefit, aka the Met Gala, is held in New York....
...The company has benefited from strong demand for ride-hailing and deliveries, as well as its growing advertising business. Uber recorded its first annual operating profit in its fourth quarter....
...Yields, which move in the opposite direction to Treasury prices, dropped on Wednesday as Federal Reserve chair Jay Powell hinted the US central bank’s next policy move was unlikely to be a rate rise....
...Tropin said his firm needs to have a presence in New York as the city remains a magnet....
...The Bank of Canada’s next rate decision is on June 5....
...Concerns about the fate of NYCB have not caused a broader panic about the health of regional banks in general, though many of the stocks of those lenders were down as well on Wednesday....
...US stocks were muted on Tuesday as comments from the president of the Minneapolis branch of the Federal Reserve signalled interest rates may remain higher for longer....
...Ignites Europe reported last year that State Street’s dominance in servicing Europe’s ETF market could be a problem for the sector, as the bank acts as custodian for more than two-thirds of European ETF...
...The advance mirrored moves on the other side of the Atlantic, where stocks in the UK and Europe rose as the Bank of England stirred hopes it could loosen monetary policy this summer if inflation stays low...
...Shares in NYCB were down about 2 per cent by Wednesday lunchtime in New York....
...Shares in New York Community Bank, which last year bought the failed Signature Bank in a government-assisted deal, plunged as much as 45 per cent on Wednesday morning, after it reported a surprise fourth-quarter...
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