Monday, 28 July 2014
Last updated 2 days ago
Jul 1 2014 | 8:27am ET
An activist hedge fund has taken aim at the world’s largest deposit bank.
Trian Fund Management has taken a 2.5% stake in the Bank of New York Mellon and plans to discuss ways of improving shareholder value with management. The hedge fund has been building its stake since the first quarter, winning permission to keep it a secret until now.
“Trian is a respected investment firm. We look forward to engaging with them as we do all our investors,” BNY Mellon said.
Trian’s investment follows a complaint in February from CLSA’s Mike Mayo that the bank should be “more aggressive” about restructuring, including a spin-off of its huge asset-management business.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…