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Special Report

Impact investing


BNY and Mellon assets under custody up to $17.5trn

GLOBAL - Bank of New York has increased  its assets under custody to $13trn (€10trn) which means that after the merger the new Bank of New York Mellon Corporation will have $17.5trn under custody.

Meanwhile, however, JPMorgan stays the biggest player in the market with an increase of assets under custody (AUC) of 30% to $13.9trn.

The Bank of New York reported a 19.3% AUC over 2006 in its Q4 results, Mellon's assets under custody increased 15% to $4.5trn.

Northern Trust saw its assets under custody rise 21% to $3.5trn. As reported, State Street is third in the custody market with $11.85trn.

In their result statements both Bank of New York and Mellon noted that - permitting shareholder agreement - the merger "is expected to close early in the third quarter of 2007" with the boards of both companies having unanimously approved the merger.

In the asset management market the Bank of New York Mellon Corporation will hold around $1.2trn of assets under management, just behind State Street with $1.7trn.

The Bank of New York filed an 29% AUM increase to $190bn and Mellon a 27% rise to $995bn. JPMorgan's AUM are now at $1.0trn (+20%), Northern Trust has $697bn (+13%).

In terms of net revenue, JPMorgan reported $61.43bn a 14% increase compared to 2005. The Bank of NY had a total revenue of $6.8bn (+12.9%), Mellon had $5.31bn (+13.5%) and Northern Trust $3.06bn (+14%).

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