On Thursday, September 17, BNY Mellon presented at the 2015 Barclays Global Financial Services Conference in New York. Thomas Gibbons, vice chairman and chief financial officer of BNY Mellon, and Brian Shea, vice chairman and chief executive officer of BNY Mellon Investment Services, updated investors on the company’s strategy and financial outlook.
They outlined the set of strategic priorities to accelerate the company’s progress, which include:
• Driving responsible revenue growth with an increased focus on profitability and shareholder value over pure revenue and market share, and making strategic platform investments to drive long term growth;
• Our Business Improvement Process is driving productivity and service quality higher, while reducing structural costs and risk and creating efficiencies;
• Being a trusted counterparty by maintaining our financial strength and stability and industry-leading liquidity and capital positions;
• Generating excess capital and deploying it effectively; and
• Attracting and developing top talent.
“We are making good progress against these priorities as our first-half results showed, and we are on track to achieve or exceed the revenue, expense, operating leverage and earnings goals that we outlined on Investor Day last October,” said Shea.
Shea also discussed the high-level goals of Investment Services, the recent fund accounting technology incident and the strategic technology investments being made to empower BNY Mellon’s clients and business. Gibbons provided an update on the company’s Business Improvement Process and outlined specific initiatives to generate structural cost savings, as well as provided an overview of factors that could influence the company’s financial results the remainder of 2015.
The full 2015 Barclays Global Financial Services presentation can be viewed here.