BNY Mellon Profits Off 37% on Lawsuit Costs, but Pershing Is a Bright Spot
Bank of New York Mellon's Q2 earnings were down due to costs from an investor lawsuit, but the clearing services unit that includes Pershing Advisor Services helped slightly offset that profit loss.
BNY Mellon’s Pershing Fees Help Bank Offset Forex Woes
Higher Q1 2012 clearing services fees at the BNY Mellon unit that includes Pershing Advisor Services helped the bank offset lower trading volumes as the bank fights a number of forex lawsuits.
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.