Latest news with #BankofNewYorkMellon
Yahoo
8 hours ago
- Business
- Yahoo
SocGen's Crypto Arm Unveils Dollar Stablecoin on Ethereum and Solana
SG Forge, the cryptocurrency division of French bank Société Générale, plans to introduce a dollar-backed stablecoin on the Ethereum and Solana blockchains, the bank said on Tuesday. The USD CoinVertible (USDCV) will start trading in early July and involves Bank of New York Mellon acting as reserve custodian for the token. As crypto rules coalesce around the globe, pressure is mounting on banks to take part in the integration of fiat-pegged stablecoins into mainstream finance (TradFi). SocGen, something of a stablecoin pioneer with its euro-backed EURCV token, says it is the first global banking group to issue a public stablecoin tied to the U.S. dollar. The involvement of BNY Mellon enables seamless integration between traditional and digital financial ecosystems, SG Forge said in a press release. 'After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a U.S. dollar version was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially,' SG Forge CEO Jean-Marc Stenger said in the statement, referring to the European Union's Markets in Crypto Assets regulations. Stablecoins, digital tokens whose value is pegged to a real-world asset, are used extensively for crypto trading and other applications. The market is dominated by Tether's USDT, with a market cap of about $155 billion, according to CoinDesk data. USDC, issued by Circle (CRCL), is No. 2 with a market cap of $60 billion. 'The stablecoin market remains largely U.S. dollar denominated. This new currency will enable our clients, either institutions, corporates or retail investors, to leverage the benefits of an institutional-grade stablecoin,' he said in a statement. USD CoinVertible and EUR CoinVertible are designed to support a wide range of client activities, the bank said, including crypto trading and cross-border payments, on-chain settlement, foreign exchange transactions and collateral and cash management. Neither USD CoinVertible nor EUR CoinVertible are available to "U.S. Persons," SG Forge said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
The Bank of New York Mellon Corporation (NYSE:BK) is a favorite amongst institutional investors who own 87%
Significantly high institutional ownership implies Bank of New York Mellon's stock price is sensitive to their trading actions A total of 16 investors have a majority stake in the company with 50% ownership Recent sales by insiders We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Every investor in The Bank of New York Mellon Corporation (NYSE:BK) should be aware of the most powerful shareholder groups. With 87% stake, institutions possess the maximum shares in the company. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Since institutional have access to huge amounts of capital, their market moves tend to receive a lot of scrutiny by retail or individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. In the chart below, we zoom in on the different ownership groups of Bank of New York Mellon. Check out our latest analysis for Bank of New York Mellon Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. Bank of New York Mellon already has institutions on the share registry. Indeed, they own a respectable stake in the company. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Bank of New York Mellon, (below). Of course, keep in mind that there are other factors to consider, too. Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Hedge funds don't have many shares in Bank of New York Mellon. Our data shows that The Vanguard Group, Inc. is the largest shareholder with 9.9% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 9.0% and 5.9%, of the shares outstanding, respectively. After doing some more digging, we found that the top 16 have the combined ownership of 50% in the company, suggesting that no single shareholder has significant control over the company. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own less than 1% of The Bank of New York Mellon Corporation. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own US$83m of stock. In this sort of situation, it can be more interesting to see if those insiders have been buying or selling. With a 12% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Bank of New York Mellon. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. While it is well worth considering the different groups that own a company, there are other factors that are even more important. To that end, you should be aware of the 1 warning sign we've spotted with Bank of New York Mellon . But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
AKROPOLIS GROUP, UAB ANNOUNCES REDEMPTION OF NOTES
This announcement relates to the disclosure of information in relation to the Notes that qualifies or may have qualified as inside information withing the meaning of article 7(1) of the Market Abuse Regulation (EU) 596/2014 ("MAR"). For the purpose of MAR and article 2 of the Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Gabrielė Sapon, CEO of the Issuer. AKROPOLIS GROUP, UAB (the "Issuer") hereby notifies the holders of the EUR 300,000,000 2.875 per cent. Guaranteed Notes due 2026 (the "Notes") that it will redeem all of the Notes presently outstanding on 2 June 2025 (the "Redemption Date") at their Make Whole Redemption Price, equal to EUR 1,005.22 per EUR 1,000 in the principal amount of the Notes, in accordance with Condition 6(c) of the Notes. As the Redemption Date is also the Interest Payment Date for the Notes, holders will also receive the regular scheduled coupon equal to EUR 28.75 per EUR 1,000 in principal further information please contact: The Issuer Investor Relations AKROPOLIS GROUP, UAB IR@ Paying Agent The Bank of New York Mellon, London Branch 160 Queen Victoria Street London EC4V 4LA United Kingdom corpsov2@ FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, THE UNITED STATES OR TO ANY U.S. PERSON, OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS in to access your portfolio
Yahoo
03-05-2025
- Business
- Yahoo
BNY secures licence for regional headquarters in Saudi Arabia
The Bank of New York Mellon (BNY) has obtained a regional headquarters (RHQ) licence from the Ministry of Investments in Saudi Arabia (MISA). In a statement, the company said that this new regional headquarters, located in Riyadh, will facilitate its strategic, administrative, and corporate services across the Middle East region. BNY has been providing asset servicing solutions in Saudi Arabia, which include global custody services, global risk solutions, custody FX, and institutional accounting. All these services are offered under a 'Capital Markets Authority' licence. The company has maintained a presence in Saudi Arabia for several decades, collaborating with clients in the region, including the UAE, Kuwait, Qatar, Bahrain, and Oman. BNY International head Hani Kablawi said: 'The Kingdom of Saudi Arabia is delivering on its Vision 2030, and we will continue to bring BNY's expertise across the financial lifecycle to help the KSA achieve its ambitions. 'Today's announcement underscores the strategic importance of the Middle East in BNY's international growth plans and our commitment to being an enduring partner to our clients across the region.' Currently, BNY Mellon serves over 90% of Fortune 100 companies and almost all of the top 100 banks worldwide. As of 31 March 2025, BNY Mellon had $53.1tn in assets under custody and/or administration and $2tn in assets under management (AUM). In September 2024, BNY launched Alts BridgeSM, a comprehensive solution that combines data, software, and services. The aim is to cater to the demand from wealth intermediaries seeking streamlined access to alternative and private market investments. "BNY secures licence for regional headquarters in Saudi Arabia" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
13-04-2025
- Business
- Yahoo
BNY enjoys record quarter but sees tariff trouble ahead
Bank of New York Mellon enjoyed a record quarter at the start of 2025 but remains watchful as the tumult over President Donald Trump's trade policies continues. In terms of profits, revenue and earnings per share, the first three months of the year marked BNY's best first quarter on record. Net income was $1.15 billion, up 21% from the same period last year. Earnings per share were $1.58, beating analysts' estimates of $1.51, according to S&P. And revenue was $4.79 billion, surpassing expectations and marking a 6% increase from the year-ago period. Even so, CEO Robin Vince struck a cautious tone in a call with journalists on Friday. "There's clearly been some signs of optimism at the beginning of the year, but we've now seen a reversal of sentiment, which has been driven by uncertainty," Vince said. "So we now have quite a few things on the minds of market participants." The CEO said a number of factors contributed to this uncertainty, first and foremost the seesawing tariff policies of the Trump administration. Vince said he sees the flux as part of a long-term negotiation strategy, which means businesses will have to wait a while for the "final picture" to come into focus. "Last week's tariff announcements were clearly part of a broader strategy to try to reset relations between the U.S. and the rest of the world," he said. "It's our expectation that these negotiations are going to take some time, and this uncertainty will likely have some length to it." Like other banks, BNY saw its stock take a hit after Trump imposed tariffs on almost all U.S. trading partners. In the two days after the announcement, BNY's stock dropped by almost 13%, though it has partially recovered since then. The combination of uncertainty and stock volatility has created challenges for BNY — but also opportunities, Vince said. "At times of uncertainty in markets, we're kind of viewed as a port in a storm," he said. "And so the uncertainty actually attracts people to our platform, because they see us as this sort of rock of stability." In the first quarter, fee revenue reached $3.4 billion, a 3% increase from last year. Net interest income jumped 11% year over year to $1.16 billion. BNY's sale of a Toronto-based trust company also boosted first-quarter revenue. BNY sold the business to the Australian stock transfer company Computershare in March. In the first quarter, BNY said it gained $40 million from the sale. Overall, analysts at Truist called it a "good but not outstanding" quarter for BNY. "We still like BK stock here for its status as one of the most defensive banks combined with the growth and offense made possible by recent investments," David Smith, head of consumer lending at Truist, wrote in a research roots dating back to 1784, BNY is one of the oldest banks in the world. But in recent years, it's been betting big on some of the newest financial technologies. In 2022, BNY launched a product offering direct custody of cryptocurrencies, starting with bitcoin. That product ran into a regulatory roadblock from the Biden-era Securities and Exchange Commission, which required custodians to list crypto assets as a liability on their balance sheets. Under Trump, however, the SEC quickly dropped that rule. The reversal, which came less than a week after Trump's inauguration, was so sudden that it caused some whiplash during a recent interview with one of BNY's executives. At a conference hosted by UBS in February, Emily Portney, BNY's head of asset servicing, said the bank was proud to be "one of the very few institutions" that can have custody of digital assets. That prompted a puzzled reaction from the moderator, UBS analyst Brennan Hawken. "I thought that was against the rules," Hawken said. In the call with reporters on Friday, Vince said crypto regulations are needed to set the "rules of the game," but the particular rule BNY ran up against, SAB 121, "didn't make any sense." The fact that it's now been rescinded, he said, is helpful to BNY as it continues to provide platforms for digital assets. "There have been some impediments to full participation from a regulatory point of view," Vince said. "We haven't let that stop us." Sign in to access your portfolio
