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Bank of New York Mellon

Headquarters: One Wall Street
New York, NY 10286
Employees: 52,500
CEO: Gerald Hassell
Stock Quote: BK


Career Page

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets.

The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $27.9 trillion in assets under custody and administration, more than $1.6 trillion in assets under management and reported $368.2 billion in total assets.

The company was formed by the merger of Bank of New York and the Mellon Corp. in 2007.

In 2013, the company reported revenues of $11.79 billion and net income of $2.04 billion.


The Bank of New York, New York's first bank, opened for business at the Walton House in Lower Manhattan on June 9, 1784, only a few months after the departure of British troops from American soil. The bank was created after a small ad in a newspaper inviting top businessmen to assist in the creation of a new bank.

The fledgling nation sought economic credibility during a period when its monetary system was complex and confusing.

Alexander Hamilton, a highly respected New York attorney and future statesman, was enlisted to write the new bank's constitution and became the individual most actively involved in the organization of The Bank of New York, guiding it through its early stages, and leaving a lasting imprint on The Bank's philosophy that remains with us today.

As Secretary of the Treasury in George Washington's first cabinet, Alexander Hamilton negotiated the first loan obtained by the new government in 1789 for $200,000. This was a milestone that helped establish the credit of the U.S. government and its independence.

The New York Stock Exchange was formed in 1792, and the first corporate stock to be traded on the NYSE was The Bank of New York.

The Bank of New York would go on to finance ports and transportation networks in the state including the Erie Canal and New York Subway. The bank was an important contributor to the growth of New York as a financial center.

On Jan. 15, 2010, BNY Mellon sold Mellon United National Bank ("MUNB"), a national bank subsidiary located in Florida.


Health and Welfare Benefits

You may choose from a range of options designed to provide you and your covered dependents with high-quality healthcare, including prescription drug coverage, at reasonable costs.
Dental coverage is available to help with the cost of routine dental care services for you and your family. Depending on the option you choose, your plan may include orthodontic coverage.
The Company offers vision coverage for exams, glasses or contact lenses, and other services.
Flexible Spending Accounts
You can make Federal tax-free contributions to Dependent Care and/or Healthcare Flexible Spending Accounts (FSAs). Depending on your tax bracket, you could have significant tax savings as a result of the money contributed into the FSAs.
Eligible Dependents
You can elect to cover eligible dependents under many company-provided benefits.

Insurance Benefits

Life Insurance
The Company provides a life insurance benefit to help provide financial security for your family in the event of your death.
Accidental Death & Dismemberment
Accidental Death & Dismemberment (AD&D) provides financial protection for you or your family if you suffer a severe injury or death.
Travel Accident Insurance
The Company provides Travel Accident Insurance at no cost to you. This coverage pays a benefit in the event of your accidental death while traveling on Company-related business.
The Company provides sick leave and short-and long-term disability programs that replace all or a portion of your income if you become seriously ill or disabled.
Dependent Life Insurance
You may elect Dependent Life Insurance coverage to provide financial protection for your family in the event of your dependent's death.

Work/Life Programs

The Bank of New York Mellon offers a variety of programs and services designed to support employees as they balance their work and personal responsibilities.
Employee Assistance Program
The Employee Assistance Program (EAP) is designed to provide confidential assistance to you for personal problems that may disrupt job performance, family or community life. These concerns include family discord; alcoholism and drug dependency; and financial, legal, emotional or other personal problems, such as illness or adapting to a stressful environment.
Tuition Assistance
The Company strongly encourages you to continue your professional development through the enhancement of your skills, abilities and education. The tuition assistance program offers qualified employees the opportunity to enhance their careers through the reimbursement of tuition upon successful completion of career-related course at accredited colleges, universities and institutes.
The Company respects your need to take time away from work to be with your family or simply relax. Qualified employees are eligible for paid vacation based on job title and years of service.

Retirement Benefits

The Bank of New York Mellon offers retirement benefits to help you plan for a more financially secure future.
401(k) Plan
Eligible employees may contribute to the 401(k) retirement savings plan on a pre-tax basis and receive Company-matching contributions. The plan offers a full range of investment options to meet your personal savings goals. Rollovers from qualified retirement plans may be accepted.
Pension Plan
The Company offers a Pension Plan to eligible employees at no cost to you.

Updated July 12, 2014

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