The Bank of New York Mellon Corporation (BK)

The Bank of New York Mellon Corporation is the largest custody bank in the world and a major provider of services that keep financial markets running. It holds and services securities for pension funds, insurers, asset managers, central banks and governments, and handles fund accounting, collateral management, clearing, treasury services and payments. It also runs an investment management arm and the Pershing platform for broker-dealers and advisors. As of March 31, 2026, it had about $59.4 trillion in assets under custody or administration.

The company's oldest predecessor, the Bank of New York, was founded in 1784 by a group that included Alexander Hamilton and is one of the oldest banks in the United States. It was among the first companies traded on the New York Stock Exchange. Over the 20th century it shifted from commercial lending toward securities processing and custody, and by the 2000s it was one of the leading firms in that business, trading on the NYSE under the symbol BK.

In July 2007 the Bank of New York merged with Pittsburgh-based Mellon Financial Corporation, a large trust and asset management firm, creating The Bank of New York Mellon Corporation. The combined company kept the BK ticker and its headquarters in New York. In the years that followed it streamlined its businesses, invested heavily in technology and data platforms, and returned capital to shareholders through dividends and buybacks. In 2024 it shortened its brand to BNY across its businesses.

On May 11, 2026, the company announced that it would change its common stock ticker from BK to BNY so that the symbol matched the brand. Trading under BNY began on May 21, 2026, making May 20 the last day under BK. The listed preferred shares also moved to BNY-based symbols. The company noted that the change did not affect its legal name, its NYSE listing or the CUSIP numbers of its securities, so existing holdings carried over automatically.