Q1 2025 Bank of New York Mellon Corp Earnings Call Transcript
Key Points
- Bank of New York Mellon Corp (BK) reported a solid financial performance with earnings per share of $1.58, up 26% year over year.
- Total revenue increased by 6% year over year to $4.8 billion, demonstrating strong growth.
- The company achieved positive operating leverage, with a pre-tax margin improvement to 32% and a return on tangible common equity of 24%.
- The transformation strategy into a more platforms-oriented company is showing progress, with over half of the company now operating under the new model.
- The company is leveraging AI to drive productivity gains and improve risk management, with over 40 AI solutions already deployed into production.
- Uncertainty in the operating environment due to geopolitical tensions and trade policy changes poses elevated risks in the near and medium term.
- Investment management and performance fees were down 5%, driven by the mix of AUM flows and certain rebate adjustments.
- Assets under management remained flat year over year at $2 trillion, with net outflows in certain strategies.
- The macroeconomic environment remains uncertain, impacting client confidence and potentially affecting future business decisions.
- The company's Investment and Wealth Management segment reported a decline in total revenue by 8% year over year, with pre-tax income down 41%.
Good morning and welcome to the 2025 first-quarter earnings conference call hosted by BNY. (Operator Instructions) Please note that this conference call and webcast will be recorded and will consist of copyrighted material. You may not record or rebroadcast these materials without BNY's consent.
I will now turn the call over to Marius Merz, BNY Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to our first-quarter earnings call. I'm joined by Robin Vince, our President and Chief Executive Officer; and Dermot McDonogh, our Chief Financial Officer. As always, we will reference our quarterly update presentation, which can be found on the Investor Relations page of our website at bny.com.
I'll note that our remarks will contain forward-looking statements and non-GAAP measures. Actual results may differ materially from those projected in the forward-looking statements. Information about these statements and non-GAAP measures is
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