Chelsea Denyer’s Post

AM Best affirms ‘Excellent’ ratings for BNY Mellon's captives. AM Best has affirmed the financial strength rating of ‘A’ (Excellent) and the long-term issuer credit ratings of ‘a+’ (Excellent) of BNY Trade and Hamilton Insurance, single-parent captives of BNY Mellon. https://lnkd.in/ewpnNpZR #captive #captiveinsurance

AM Best affirms ‘Excellent’ ratings for BNY Mellon's captives. AM Best has affirmed the financial strength rating of ‘A’ (Excellent) and the long-term issuer credit ratings of ‘a+’ (Excellent) of BNY Trade and Hamilton Insurance, single-parent captives of BNY Mellon. https://lnkd.in/ezckfZTS #captive #captiveinsurance

Bank of New York Mellon (NYSE:BK) is rebranding to BNY, CEO Robin Vince announced in a memo to employees on Tuesday. Founded 240 years ago by Alexander Hamilton, BNY has grown to oversee $48.8 trillion in assets. The bank is known for serving other financial institutions as a custodian. https://lnkd.in/ef7VVd8T BNY has gone up 34% in one year. On tsterm.com, the current causal predictors for its price in six months include 1- and 2-Year US treasury yield rates. So not-overly-strong interest rates are good for this financial stock's price. https://lnkd.in/ev-N-gHW

One exciting trend happening in collateral is buy-side firms creating a centralized treasury function. Why’s that matter and what are the benefits? BNY Mellon’s Head of Margin Services Ted Leveroni has the latest in an interview with Aerial View. #collateral #liquidity #corporatetreasury #aerialview #aerialviewbites #bnymellon #cutthroughthecorporate

This weekend reading kicks off with news that Charles Schwab has revealed changes to its technology offerings in the wake of its merger with TD Ameritrade, bringing over several popular TD tools, including portfolio rebalancing tool iRebal, its Model Market Center model management service, and its trading platform thinkpipes, likely in an effort to keep former TD users (many of whom were accustomed to this software) on the Schwab platform (and to expand offerings for firms already on the Schwab platform) as competition in the RIA custodial platform marketplace heats up. https://bit.ly/4dRpIj6 #advicers

Giant custodian BNY Pershing faces just one more period of massive deconversions of client assets stemming from the collapse of First Republic last year. Here are the key takeaways for financial advisors from the latest update on the giant custodian’s business after the second quarter. #earnings #wealthmanagement #financialadvisors

Today, the oldest bank in the US, BNY Mellon, has officially rebranded under a simplified BNY guise. The 240-year-old institution that can trace its roots back to a group that includes Alexander Hamilton among its founders, is undergoing its first rebranding since 2007 when The Bank of New York and Mellon Bank merged to create a financial heavyweight with over $50T in assets across 100 global markets. According to the company press release, "BNY Mellon Investment Management and BNY Mellon Wealth Management will be shortened to BNY Investments and BNY Wealth, and BNY Mellon Pershing will become BNY Pershing. The company's legal parent name will remain The Bank of New York Mellon Corporation." Source: https://lnkd.in/ea4_VN_P To learn more about how Transaction Insights can help you find signals through the noise and stay up to date with the latest developments in your industry, follow the links below 👇 🔗 TransactionInsights.com #Payments #Banks #Banking #Finance #Fintech #Investing #Investments #AssetManagment #Merchants #Ecommerce #Business #Economy #BNYMellon #BNY

It took BNY 240 years to pass $50 trillion in assets under custody and administration, and by doing so became the first bank to cross the milestone. https://lnkd.in/gKHgcFP6 The New York-based bank also reported earnings per share of $1.50, up 22% year-over-year, generated a record $3.4 billion in fees, up from $3.2 billion in Q3 of last year, and had a net income of $1.1 billion, a 16% increase over last year. “The combination of our talented team, our portfolio of leading businesses working together, and the strength of our balance sheet, gives us a great foundation to deliver more to our clients and drive sustainable, long-term shareholder value,” said CEO Robin Vince in a statement provided to Fortune. Read more: https://lnkd.in/gKHgcFP6

SMA Book of Business continues to Rise #Source: Cerulli Associates data #ManagedAccounts industry's assets swelled 22% (from $10.2 trillion) over a one-year period to reach $12.3 trillion at the end of the first quarter. #SeparatelyManagedAccounts were the star of the show, posting the fastest growth over other program types #RepasPM programs still hold the biggest share of managed account industry assets, with $3.1 trillion. #Distribution is still highly concentrated in the wirehouse channel and RIA space. #Mutual fund advisory and rep-as-advisor programs are kind of withering away slowly. #Muni bonds continue to rely on manager trading/active advice over model delivery platforms. The #SMADistributionLandscape 1. Morgan Stanley Wealth Management's advisors remain the industry's biggest users of SMAs. 2. Charles Schwab, the second largest venue for SMA distribution with its large network of RIA custodial clients. 3. Merrill Lynch comes in third on the list, with a menu that leans much more heavily on model delivery.

#usbanks #usbanking #alternativeassetmanangers #privatecredit #credit #financialregulation #apollo #kkr #blackstone Alternative asset managers now offer investors “alternative investment grade credit” at higher yields than the public markets (with apologies to a real visionary for using his words). They buy credit risk from the banks, either directly (per the BX’s recent card transaction with Barclays) or synthetically via portfolio SRT (note the recent expansion on of this activity by mainstream US banks and who is on the other side of it). By lending directly. All funded with long term investor capital. Banks become originators and distributors of risk rather than taking it themselves (we have heard this before). Is there room for all of them doing this? I guess this makes the financial system safer if this activity is not levered directly or indirectly as the duration of assets and liabilities are far better matched but the expansion of non recourse asset value lending and the like needs to be watched. Thoughts?