Bank of New York Mellon (BNY) FY2025 results: revenue $20.1 billion, up 7.8% on the year

BNY is a Delaware corporation run from New York, and it has been in business since 1784. The company describes itself as a global financial services platforms company. Its businesses are built around holding, moving, settling and accounting for other people's money and securities. At 31 December 2025 it held $59.3 trillion of assets under custody or administration for clients, and managed $2.2 trillion. Those are client assets, not the bank's own. It reports in three segments, with corporate treasury and various other items in a fourth called Other.

Securities Services

Two businesses: Asset Servicing and Issuer Services, serving asset owners, asset managers and corporate clients across the life of a transaction. This is the custody business proper, with $43.0 trillion of assets under custody or administration at the end of 2025. Asset Servicing keeps assets safe in capital markets worldwide and sells the machinery around that: fund accounting, exchange-traded fund servicing, transfer agency, trust and depository work, front-to-back outsourcing, data and analytics, and custody and administration of digital assets. It also runs foreign exchange and securities lending and financing, acting sometimes as agent and sometimes as principal. The company describes itself as one of the leading global investment services providers and one of the largest custodians, fund administrators and front-to-back outsourcing providers, and describes its agency securities lending programme as one of the largest lenders of US and non-US securities.

Market and Wealth Services

Three businesses selling services and technology to financial institutions, corporations, foundations and endowments, public funds and government agencies, holding $15.9 trillion of assets under custody or administration between them. Pershing sells execution, clearing, custody and technology to broker-dealers, wealth managers and registered investment advisers, and holds $3.0 trillion of that total. Payments and Trade, which used to be called Treasury Services, handles payments, liquidity management and trade finance. Clearance and Collateral Management clears and settles equity and fixed-income trades and acts as custodian for tri-party repo collateral; the company describes itself as the primary provider of US government securities clearance and a provider of non-US government securities clearance. Average collateral balances ran at $7,091 billion in 2025.

Investment and Wealth Management

The fund management and private client side, with $2.2 trillion under management between its two halves. Investment Management sells multi-asset portfolio products to institutions and retail investors through a global distribution platform and seven specialised investment firms, among them BNY Investments Dreyfus in liquidity, BNY Investments Mellon in index, Insight Investment in fixed income, BNY Investments Newton in equity and multi-asset, Walter Scott in equity and ARX in Brazilian equity. BNY also holds a non-controlling interest in a multi-strategy private equity investment firm. Each investment team runs its own process. Wealth Management sells investment management, custody, wealth and estate planning, private banking, investment servicing and information management to individuals, families, family offices, charitable gift programmes, endowments and foundations, and held $350 billion of client assets across more than 30 offices in the United States and abroad.

How the legal structure sits

Two principal United States banking subsidiaries carry the work. The Bank of New York Mellon, chartered in New York state, houses Securities Services along with the Payments and Trade and Clearance and Collateral Management businesses and the bank-advised part of Investment Management. BNY Mellon, National Association holds Wealth Management and part of Pershing. Four further US bank and trust subsidiaries concentrate on trust products. Most of Investment Management and Pershing sit in non-bank subsidiaries. In continental Europe the main banking subsidiary is The Bank of New York Mellon SA/NV, authorised as a credit institution by the European Central Bank and the National Bank of Belgium, with its head office in Brussels and branches in Amsterdam, Copenhagen, Dublin, Frankfurt, Luxembourg, Madrid, Milan, Paris and Wroclaw.

At the end of 2025 BNY had about 48,100 full-time employees, and about 60 percent of all its staff were based outside the United States.

From BNY's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 25 February 2026: read the full 10-K.