Bank of New York Mellon Explores Potential Merger with Northern Trust
Bank of New York Mellon Explores Potential Merger with Northern Trust
Bank of New York Mellon (BNY) has engaged in preliminary discussions with Northern Trust regarding a potential merger, according to reports from The Wall Street Journal. These discussions are in their early stages, and no formal offer has been made by BNY.
BNY Mellon, with a market capitalization exceeding $65 billion and first-quarter 2025 revenue of $4.8 billion (a 6% year-over-year increase), and net income of $1.22 billion (a 19% increase year-over-year), is reportedly considering its next steps. Northern Trust, based in Chicago, has a market value exceeding $21 billion and has seen its share price increase approximately 9% this year. A merger between the two companies could create an investment management powerhouse overseeing more than $3 trillion in assets. Both firms offer a range of services, including asset servicing, money management, and back-office solutions for investment firms.
Sources familiar with the matter indicate that the CEOs of both BNY Mellon and Northern Trust have held at least one meeting to discuss the potential merger. However, these sources also caution that the discussions may not result in a deal. Robin Vince, BNY Mellon’s CEO, previously worked at Goldman Sachs and has led the company since September 2022. Northern Trust’s CEO, Michael O’Grady, has a background as a dealmaker.
The reported merger discussions come as BNY Mellon continues to expand its global presence. In May 2025, BNY Mellon received approval to establish a regional headquarters in Riyadh, Saudi Arabia. This new headquarters will enhance BNY Mellon’s strategic and corporate services across the Middle East. The company’s services in Saudi Arabia include global custody services, global risk solutions, custody FX, and institutional accounting, offered under a Capital Markets Authority license.
While BNY Mellon has not commented publicly on the merger speculation, Northern Trust has yet to respond to inquiries from Reuters. The lack of official statements from both companies suggests that the discussions remain at a preliminary and exploratory stage.
It is important to note that the information presented here is based on reports from multiple news sources and is subject to change as the situation unfolds. No official confirmation of a merger has been provided by either company.
In summary, Bank of New York Mellon has initiated exploratory discussions with Northern Trust regarding a possible merger. These talks are in their early stages, and there is no guarantee that a deal will be reached. The potential merger comes amidst BNY Mellon’s continued global expansion and follows recent positive financial performance for both companies.
Disclaimer: This content is aggregated from public sources online. Please verify information independently. If you believe your rights have been infringed, contact us for removal.