BNY and Mellon Financial complete landmark merger
The Bank of New York has completed its merger with buy-side giant Mellon Financial Corporation, forming the Bank of New York Mellon Corporation. The deal, which has been in progress since towards the end of 2006, creates one of the world's largest asset managers with more than $1 trillion under management. The pair will also be a leading player in asset servicing, with $18 trillion under custody and administration. The new company now has a presence in 37 countries, serving more than 100 markets
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