Summary
Bank of New York Mellon Corporation (BK) in its 2013 10-K filing for the year ended December 31, 2012, highlights its position as a major global financial services company with substantial assets under custody and administration ($26.2 trillion) and management ($1.4 trillion). The company operates through two primary segments: Investment Management and Investment Services, supported by an "Other" segment encompassing credit-related services and corporate functions. Despite facing intense competition and a challenging global economic environment, including the ongoing Eurozone crisis, BNY Mellon emphasizes its commitment to technological innovation and robust client service as key differentiators. The filing also details the company's risk factors, which include economic uncertainty, regulatory changes, market volatility, and operational risks inherent in global operations. BNY Mellon maintains a diversified property portfolio across major global cities and addresses its regulatory obligations and capital management strategies. The report confirms the effectiveness of its disclosure controls and procedures as of December 31, 2012, with an exception noted for the reporting of Assets under Custody and/or Administration, which has since been remediated.
Financial Highlights
40 data points| Revenue | $14.53B |
| Operating Income | $2.44B |
| Interest Expense | $534.00M |
| Net Income | $2.42B |
| EPS (Basic) | $2.03 |
| EPS (Diluted) | $2.03 |
| Shares Outstanding (Basic) | 1.18B |
| Shares Outstanding (Diluted) | 1.18B |
Key Highlights
- 1BNY Mellon, as of December 31, 2012, held $26.2 trillion in assets under custody and/or administration and $1.4 trillion in assets under management.
- 2The company operates two principal business segments: Investment Management and Investment Services.
- 3BNY Mellon operates globally, with significant property holdings in major financial centers like New York, Pittsburgh, Boston, London, and key locations in India.
- 4The company acknowledges intense competition across all business areas and cites technological innovation and client service as competitive advantages.
- 5Key risk factors identified include global economic instability (e.g., Eurozone crisis), market volatility, regulatory changes, and operational risks.
- 6Disclosure controls and procedures were deemed effective as of December 31, 2012, with a noted ineffective area in reporting Assets under Custody and/or Administration, which has since been remediated.