Extra Charges, Tech Spending Will Weigh on Near-Term Results, but BNY Will Be Better Off Long Term
Fourth-quarter results for wide-moat-rated BNY Mellon were a bit messy, as the company had a significant one-time benefit from tax-related items and also took a sizable extra charge, largely due to severance expenses related to internal restructurings. Additionally, the firm undertook a significant shuffling of leadership and its organizational structure. The overall effect of these moves was to reduce the layers of management between top management and reporting units, as well as to add a head ...Bank of New York Mellon divides its businesses into two business segments, Investment Services and Investment Management. The company also has an Other segment, which includes the leasing portfolio, corporate treasury activities, derivatives and other trading activity, corporate and bank-owned life insurance, renewable energy investments and business exits. The company's two principal United States banking subsidiaries engage in trust and custody activities, investment management services, banking services and various securities-related activities. The company has four other United States bank and/or trust company subsidiaries concentrating on trust products and services across the United States.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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