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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of New York Mellon Corporation (The)    BK

BANK OF NEW YORK MELLON CORPORATION (THE

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Bank of New York Mellon : BNY Mellon to shut derivatives sales, trading business

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09/30/2014 | 06:17pm EDT
A woman walks past a logo at the office of the Bank of New York Mellon in Brussels

(Reuters) - Bank of New York Mellon Corp will exit the derivatives sales and trading business that operates as part of the company's global markets group.

"Global Markets will offer a modified version of its cash rates offering to support BNY Mellon's investment services clients," company spokesman Ron Summer said in an email.

The decision affects about 50 people, almost all in New York, Bloomberg said, citing a person familiar with the matter.

Employees were told in a meeting earlier this month to expect changes so that BNY Mellon could focus on its core business of custody and collateral services, said the person.

About 20 positions will be cut this year, another person briefed on the plans told Bloomberg.

(Reporting By Sudarshan Varadhan; Editing by Don Sebastian)

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Financials (USD)
Sales 2019 15 725 M
EBIT 2019 4 995 M
Net income 2019 4 090 M
Debt 2019 32 796 M
Yield 2019 2,58%
P/E ratio 2019 10,6x
P/E ratio 2020 11,0x
EV / Sales2019 4,76x
EV / Sales2020 4,76x
Capitalization 42 117 M
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Technical analysis trends BANK OF NEW YORK MELLON CO
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 47,38  $
Last Close Price 45,67  $
Spread / Highest target 24,8%
Spread / Average Target 3,75%
Spread / Lowest Target -10,2%
EPS Revisions
Managers
NameTitle
Charles William Scharf Chairman & Chief Executive Officer
Lester J. Owens Head-Operations & Senior Executive VP
Michael Santomassimo Chief Financial Officer
Bridget E. Engle Chief Information Officer & Senior Executive VP
Sabet Elias Chief Technology Officer
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