Bank of New York Mellon Corp. reported a 50% increase in second-quarter profit due to a stock market rally that lifted assets and fees. Net income rose to $830 million, or 73 cents a share, from $554 million or 48 cents a year earlier. The bank has been under pressure from activist investors to improve results. BNY Mellon settled a class-action lawsuit for $180 million and agreed to pay $714 million to settle allegations of defrauding clients in currency transactions. The bank's shares have gained 5.9% this year.
documents/vol00010-efta01366015-pdf.pdf
{"title":"BNY Mellon Earnings Climb 50% as Fees Rise With Custody Assets","key_people":["Gerald Hassell","Mick McGuire","Nelson Peitz","Peter May","Ed Garden","David Einhorn"],"document_date":"2015-07-21","document_type":"media","key_locations":["New York","San Francisco","Memphis","1 Wall Street"],"key_organizations":["Bank of New York Mellon Corp.","Marcato Capital Management","Trian Fund Management","Greenlight Capital","State Street Corp.","Northern Trust Corp."]}