BNY Mellon Investment Management

BNY Mellon Investment Management (BNY Mellon IM) is the investment management division of BNY Mellon. It is one of the largest asset managers in the world[1] with $2.4 trillion in assets under management as of December 31, 2021. BNY IM uses seven different specialized investment managers, each with its own strategy and expertise to manage investments.[2]

BNY Mellon Investment Management
TypeSubsidiary
IndustryInvestment management
Founded2007
Headquarters
240 Greenwich Street, Manhattan, New York, U.S.
Area served
Worldwide
Key people
Hanneke Smits (CEO)
ProductsMutual Funds
Money market funds
ETFs
AUMUS$ 1.8 Trillion (December 31, 2022)
ParentBNY Mellon
Websitewww.bnymellonim.com

History

In July 2007, BNY Mellon was created from the merger of the Bank of New York and Mellon Financial.[3][4] The current entity, BNY Mellon Investment Management acts as the investment arm of BNY Mellon. In 2020, the Investment Management division contributed around 26% to BNY Mellon's fee revenue.[5]

The investment firm Alcentra[6] was part of the Bank of New York while Dreyfus,[7] Newton[8] and Walter Scott[9] were part of Mellon Financial.

In 2007, BNY Mellon acquired Brazilian asset management firm, ARX Capital Management.[10]

In 2009, BNY Mellon acquired Insight Investment from Lloyds Banking Group for £235m.[11] In the same year BNY Mellon acquired a 20% stake in Siguler Guff.[12]

In 2018, BNY Mellon IM merged three of its investment firms (Mellon Capital Management, Standish Mellon Asset Management and The Boston Company Asset Management) to form a new unit called Mellon Investments.[13]

In 2019, BNY Mellon IM rebranded some of its fund range dropping the Newton, Insight brands and Dreyfus brand names from funds.[14][15]

In 2020, BNY Mellon IM launched BNY Mellon Investor Solutions, an investment outsourcing services platform .[16]

On May 31, 2022 it was announced that BNY Mellon IM would sell Alcentra to Franklin Templeton Investments and the transaction was completed on 1 November 2022.[17][18]

Business overview

Investors of BNY Mellon Investment Management include pension funds, public funds, endowments and foundations.

BNY Mellon Investment Management manages investments through seven different investment managers.[2] They are

In addition, BNY Mellon Investor Solutions provides investment outsourcing solutions.[2]

BNY Mellon Investment Management is headquartered in New York with multiple offices across Europe and Asia-Pacific.

References
  1. June 2021. "Top 500 Asset Managers 2021". IPE. Retrieved 2021-07-11.
  2. "BNY Mellon Investment Management - AN INTRODUCTION" (PDF). BNY Mellon Investment Management. 2021. Archived (PDF) from the original on 2021-04-27.
  3. "Mellon merger OK'd, HQ on way out to NYC". Pittsburgh Post-Gazette. Retrieved 2021-07-11.
  4. Tascarella, Patty (Jul 2, 2007). "Bank of New York, Mellon complete merger". www.bizjournals.com. Archived from the original on 2015-04-02. Retrieved 2021-07-11.
  5. "2020 Annual Report" (PDF). BNY Mellon. Archived (PDF) from the original on 2021-04-30.
  6. "About Alcentra | Alcentra". www.alcentra.com. Retrieved 2021-07-11.
  7. "History of The Dreyfus Corporation – FundingUniverse". www.fundinguniverse.com. Retrieved 2021-07-11.
  8. Calian, Sara (1998-07-28). "Mellon Bank Agrees to Acquire 75% of Newton Management". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-11.
  9. LEVY, DANIELLE (13 December 2013). "Walter Scott launches new investment firm". citywire.co.uk. Archived from the original on 2016-05-14. Retrieved 2021-07-11.
  10. Dilipp S. Nag (2007-11-13). "Mellon to buy Brazil's ARX Capital". Reuters. Retrieved 2021-07-11.
  11. "BNY Mellon to acquire Insight Investment Management | Hedgeweek". www.hedgeweek.com. 2009-08-12. Retrieved 2021-07-11.
  12. Paritosh Bansal (2009-11-02). "BNY Asset Management buys Siguler Guff stake". Reuters. Retrieved 2021-07-11.
  13. Huang, Vicky Ge (13 November 2017). "BNY merges Mellon, Standish and Boston to create $560bn powerhouse". citywireamericas.com. Archived from the original on 2017-12-04. Retrieved 2021-07-11.
  14. ABDALLAH, RUDI (8 May 2019). "BNY Mellon ditches Insight and Newton names in rebrand". citywire.co.uk. Archived from the original on 2021-07-11. Retrieved 2021-07-11.
  15. HUANG, VICKY GE (5 March 2019). "BNY rebrands $63bn of Dreyfus mutual funds". citywireselector.com. Archived from the original on 2019-03-05. Retrieved 2021-07-11.
  16. Mellon, B. N. Y. "BNY Mellon Investment Management Launches BNY Mellon Investor Solutions". www.prnewswire.com. Retrieved 2021-07-11.
  17. "Franklin Templeton buys BNY Mellon subsidiary Alcentra". InternationalInvestment. 2022-05-31. Retrieved 2022-11-18.
  18. "Completion of Sale of Alcentra NY, LLC by The Bank of New York Mellon Corporation to Franklin Templeton". www.businesswire.com. 2022-11-01. Retrieved 2022-11-18.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.