Q4 Earnings: BNY Mellon Profits Drop 25%; Pershing Flat
BNY Mellon’s Q4 profits totaled $0.42 per share compared with $0.54 per share in the fourth quarter of 2010. Analysts had anticipated EPS of $0.52 in Q4.
Q3 Earnings: BNY Mellon’s Pershing Unit Does Better Than Bank
Pershing Advisor Services, the RIA custody and BD clearing business of Bank of New York Mellon, outperformed its parent in Q3 2011, reporting a year-over-year rise in profits of 17.9% versus profits of just 4.7% for the larger bank.