company BK - SteadyBase

steadybase-$ company BK

account_id none on file

legal_name Bank of New York Mellon Corp

ticker BK

cik 1390777

domain bny.com

linkedin_company_url https://linkedin.com/company/bnyglobal

entry_point_account_id none on file

name The Bank of New York Mellon Corporation

exchange NYSE

sector Finance

hq New York, NY, United States

irhttps://www.bny.com/corporate/global/en/solutions/platforms/fund-investor-solutions.html

sector index/company/sector/finance/

calls 9 filings 43 executives 7 family 0

why_nownone on file

calls

So, Ken, I go a little bit off script here. It's a bit of a cultural moment for us on just expense management, financial discipline, running our company better. I talked with one of the executive committee yesterday, and he said, Dermot, you have a very high bar for yourself on flat expenses for 2024. And I said, no, we have a high bar, we as a firm, and that's down to all of us. And We talked to our managing director population earlier today, and we're all in it together about running our company better. And I think that's an important cultural pivot that we've managed to achieve over the last 12 months.

Jan 12, 2024 / receipt, needs a key / Dermot, CEO | earnings call 2024-01-12 | transcript 2b9d3067-5374-4458-8815-b8271d67d89f | chars 51468-52080 | segment 52

I think we continue to innovate as well internationally. And so we spend a lot of time on the road with clients overseas. Because of our strength in the U.S., we feel that we have a lot of value to add in the international space. And so we kind of look to build our international business from here.

Oct 17, 2023 / receipt, needs a key / Robin, other | earnings call 2023-10-17 | transcript 8f112ad9-f650-4672-befc-243647ea8cf7 | chars 45823-46122 | segment 46

Business development expenses increased as travel and entertainment expense continued to normalize off a low base last year.

Oct 17, 2022 / receipt, needs a key / Emily Portney, CFO | earnings call 2022-10-17 | transcript e5b96a04-0499-4b56-948b-fcb1293a8544 | chars 16422-16546 | segment 16

Business development expense was up, reflecting some normalization of travel and entertainment up a low base from last year.

Jul 15, 2022 / receipt, needs a key / Emily Portney, CFO | earnings call 2022-07-15 | transcript 4ea2ec2e-eafc-4ac4-95d5-ced2d60b8d26 | chars 17139-17263 | segment 17

As we kind of look out, it's certainly too early to really comment on 2022. We're in the middle of the planning process. What I would say is that, yes, the uptick you're seeing in the second half of the year is really the jumping off point for next year. And ultimately, there are other headwinds As well, inflation, as I just mentioned, look, we're seeing, it's a good thing, but return to more normalized travel rates, so T&E is likely to go up. As we reopen the offices and return to the office, there'll be some additional expenses associated with that. Of course, we will continue to also increase achieve and identify efficiencies. We're working through the investment spends as we speak, going through the proverbial food fight, because as always, there's lots that we want to do. But what I would say is we're intensely focused on expense management. We will continue to be focused on expense management, but we're also going to invest through the cycle. And if I were to just give some color, I would just say that expenses in 2022, if I'm standing here today, will be modestly up from 2021.

Oct 19, 2021 / receipt, needs a key / Emily, CFO | earnings call 2021-10-19 | transcript 5e20e5da-d156-4063-80a2-dde25f7c624d | chars 25103-26203 | segment 24

Expenses are down 1% on both a reported and adjusted basis with adjusted results due to savings in T&E and distribution and servicing expenses offset by continued investment in technology and the unfavorable impact of a weaker US dollar.

Jan 20, 2021 / receipt, needs a key / Executive, other | earnings call 2021-01-20 | transcript fbca3715-4e6e-4fda-9205-a2691ad18c56 | chars 12274-12511 | segment 12

The remainder of the increase was the result of continued investments in technology and the impact of a weaker U.S. dollar. partially offset by lower staff and business development expenses, namely travel and marketing.

Oct 16, 2020 / receipt, needs a key / Emily, CFO | earnings call 2020-10-16 | transcript 2dc3139d-d879-44b2-ab02-28f8697f4a60 | chars 21710-21929 | segment 22

On a consolidated basis, expenses of $2.7 billion were up around 1%, driven by higher technology expenses and pension costs. offset by lower business development expenses, namely travel and marketing, and the favorable impact of a stronger U.S. dollar.

Jul 15, 2020 / receipt, needs a key / Mike, CFO | earnings call 2020-07-15 | transcript 03f4ec1e-d370-4938-9309-20a948169393 | chars 19438-19690 | segment 20

You're going to see, I'll state the obvious, but you're going to see lower travel and business development costs that will be part of it.

Apr 16, 2020 / receipt, needs a key / Mike, CFO | earnings call 2020-04-16 | transcript 1907dc79-fbc8-4862-9165-26268ebf4a63 | chars 38084-38221 | segment 39

filings

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