Mellon Financial, Bank of New York complete merger

Mellon Financial has completed its merger with the Bank of New York, creating more than $1tr in asse...

Mellon Financial has completed its merger with the Bank of New York, creating more than $1tr in assets under management. The Bank of New York and Mellon Financial concluded the transaction on 2 July after initially announcing plans to merge in December 2006. The new company will trade on the New York Stock Exchange under BK. It has more than $18tr in assets under custody and administration, $1tr in assets under management and services more than $11tr in outstanding debt.