Custody banks

BNY Mellon names Todd Gibbons its permanent CEO


Gibbons had been in the position on an interim basis since September, when his predecessor, Charlie Scharf, left to become CEO of Wells Fargo.


Northern Trust gets boost from investment arms of wealthy families


Fourth-quarter fees earned from managing the assets of family offices rose 12% and were a powerful counterbalance to tighter margins.


BNY Mellon’s shares tumble as revenue growth stalls


Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.


CRA overhaul may get messy; Student loans vulnerable in bankruptcy


Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy.


What inspired State Street's digital asset investing venture


The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.


BNY Mellon's tech spending will accelerate in 2020, interim CEO says


Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.


Suddenly CEO: Thomas Gibbons praised as right choice at BNY Mellon (for now)


Bank of New York Mellon’s quick decision to elevate the longtime executive to succeed Charles Scharf on an interim basis was well received. Will the board keep him, or search for an outsider for the long term?


Higher deposit costs hold profits in check at Northern Trust


Second-quarter earnings at the Chicago custody bank were flat as increased interest costs offset better yields and fee income held steady.


How a startup fits into BNY Mellon’s blockchain strategy


Subhankar Sinha, the bank’s new head of blockchain, says its partnership with Bakkt is part of a larger effort to figure out what it would look like to be a custodian for digital assets.


The Wall Street banks bullish on blockchain


Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.