Reports
Wealth Revenues Grow At BNY Mellon

Stronger markets helped propel BNY Mellon's wealth management revenues and AuM higher.
BNY Mellon has
reported a 13 per cent year-on-year percentage rise in
second-quarter wealth management revenues, reaching $299
million.
Pre-tax income at the US group’s wealth business surged 48 per
cent to $326 million, it said in a statement.
Across the entire financial organization, net income applicable
to common shareholders rose 10 per cent year-on-year to $991
million.
“As we continued to generate further excess capital in the
quarter, we were pleased with the results of this year’s
supervisory stress tests. The stress capital buffer framework
allows us to start returning our significant excess capital to
our shareholders beginning in the third quarter. We increased our
common dividend by 10 per cent to 34 cents per share, and
received authorization from our board to repurchase up to $6
billion of common stock through the fourth quarter of 2022,” Todd
Gibbons, chief executive, said.
Total assets under management at the wealth and asset management
business stood at $2.3 trillion.