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Holly LaFon
Holly LaFon
Articles (9202)  | Author's Website |

Mario Gabelli Comments on Bank of New York Mellon Corp

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December 03, 2018 | About:
Bank of New York Mellon Corp. (NYSE:BK) (3.2% net assets as of September 30,2018) (BK – $50.99 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of September 2018, the firm had $34.5 trillion in assets under custody and $1.8 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.

From Mario Gabelli (Trades, Portfolio)'s third-quarter 2018 shareholder letter.

About the author:

Holly LaFon
I'm a financial journalist with a master of science in journalism from Medill at Northwestern University.

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