WORLDKINGS - Worldkings News - America Records Institute (AMRI) – BNY Mellon: World's largest custodian bank and asset servicing company

26-06-2020

(Worldkings.org) BNY Mellon is the world's largest custodian bank and asset servicing company, with $1.8 trillion in assets under management and $35.2 trillion in assets under custody as of the first quarter of 2020.

The Bank of New York Mellon Corporation (BNY Mellon) is an American worldwide banking and financial services holding company headquartered in New York City. BNY Mellon was formed in 2007 from the merger of The Bank of New York and the Mellon Financial Corporation. 

It is by far the world's largest custodian bank and asset servicing company, with $1.8 trillion in assets under management and $35.2 trillion in assets under custody as of the first quarter of 2020. BNY Mellon is incorporated in New York. 

A custodian bank, or simply custodian, is a specialized financial institution responsible for safeguarding a firm's or individual's financial assets and is not engaged in "traditional" commercial or consumer/retail banking such as mortgage or personal lending, branch banking, personal accounts, Automated Teller Machines (ATMs) and so forth.

Through its Bank of New York predecessor, it is one of the three oldest banking corporations in the United States, and among the oldest banks in the world, having been established in June 1784 by a group that included American Founding Father Alexander Hamilton, and Aaron Burr.

According to en.wikipedia


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