The Bank of New York Mellon Marks 225 Years of Innovation, Stability and Outstanding Client Service
June 09 2009 - 7:30AM
PR Newswire (US)
NEW YORK, June 9 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon Corporation, the global leader in asset management and
securities servicing, will observe its 225th anniversary from June
9-16, 2009, with events that mark the company's history of
innovation and stability. One worldwide effort includes hundreds of
employee volunteers lending a helping hand to nonprofit
organizations through the company's Community Partnership employee
volunteering program. In addition, a multimedia package on the
company's storied history has been posted on its website
(http://www.bnymellon.com/225years) and company representatives,
including an employee with more than 55 years of service to the
organization, will ring the closing bell at the New York Stock
Exchange on Tuesday, June 16. "Our company has a remarkable and
unique history. As the oldest bank in the United States, ours is a
story of innovation and change, and also an example of the power of
continuity. Over the course of these 225 years, the people of The
Bank of New York Mellon have stayed true to the values that still
guide our success today: client focus, trust, teamwork and
outperformance," said Robert P. Kelly, chairman and chief executive
officer of The Bank of New York Mellon. "It is fitting that during
this anniversary year, our company continues to play a critical and
stabilizing role in the global economy. We look forward to
continuing to support our people, clients and communities for the
next 225 years. " In 1784, 27-year-old Alexander Hamilton was
charged with writing the constitution for a bank which opened on
June 9 near where the Brooklyn Bridge now stands. In those early
days, the company provided some $200,000 to finance the newly
established U.S. government and in 1792 became the first company
listed on the New York Stock Exchange. Throughout its history, the
organization has played a critical role in the development and
growth of the Industrial Revolution and global finance. The company
has continued to prosper throughout severe market cycles and
economic conditions, remaining solvent even during the Great
Depression. When other banks closed at that time due to a rush on
their capital, the company remained open, never missed a dividend
payment and reported a profit in each of those quarters.
"Throughout its distinguished history, clients, governments and the
banking industry have relied on the company's strength and wisdom
to weather difficult times," said Gerald Hassell, president, The
Bank of New York Mellon. "Our leaders through time have laid the
foundation for our stability and growth." The company has been led
by true visionaries, including former U.S. Treasury secretaries
Alexander Hamilton (the first Treasury Secretary) and Andrew Mellon
(the 49th). Strategically, the company's leaders recognized the
global nature of business, expanding overseas then refining the
business model, due in part to a remarkable series of acquisitions
and mergers. The company moved away from traditional banking
businesses, focusing instead on asset management and securities
servicing, the infrastructure and backbone for global financial
markets. The company's expansion into Europe began in 1813 and its
Latin America relationships started in 1893, while business in the
Middle East was established in 1911 and its roots in Asia took hold
in the 1920s. Throughout its history, the company also has
recognized a responsibility beyond its employees and clients,
always striving to make a difference in the lives of others and in
the communities in which its employees live and work. "Corporate
Social Responsibility is fundamental to our culture and values. We
live in many communities, and we cannot be a great company if the
communities where we work are not strong, too," Kelly noted. The
Bank of New York Mellon continues to support a wide range of
dynamic, visionary organizations that help to create a better
world. For information about The Bank of New York Mellon's 225th
Anniversary, visit http://www.bnymellon.com/225years. 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 34 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 $19.5 trillion in
assets under custody and administration, $881 billion in assets
under management, services more than $11 trillion in outstanding
debt and processes global payments averaging $1.8 trillion per day.
Additional information is available at http://www.bnymellon.com/.
DATASOURCE: The Bank of New York Mellon Corporation CONTACT: Ron
Gruendl, +1-412-234-7157, , or Lane Cigna, +1-412-234-0575, , both
of The Bank of New York Mellon Corporation Web Site:
http://www.bnymellon.com/
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