Bank Of New York

Private banking has been regarded as an exclusive kind of banking. Bank officers have normally become wealth advisors to individuals whose assets can be worth more than a million dollars. Private banking officials can cater individually to persons with high net value. Apart from the usual banking services, officials in private banking may provide other services such as wealth management, tax planning, savings and retirement and inheritance planning.

Private banking is among the business areas that The Bank of New York provides to high-end clients. Aside from this, Bank of New York can also render other financial services such as investment management, treasury management and securities servicing. Retail banking as well as financial services for small businesses had been included in the services of the bank until a swap deal was made with JP Morgan Chase. Today, the financial institution focuses on corporate trust funds, investment management and other forms of financial services catering to big corporations and institutions and individuals with high net worth.

Bank of New York is US’ oldest banks which dates its foundation in 1784 by Alexander Hamilton. The company has been based in Lower Manhattan, New York City during its foundation. It is among the first company to have its corporate stocks traded in New York Stock Exchange. It has acquired several competing banks in New York and other states in America. It has also bought other financial institutions and companies. The Bank of New York, Inc. is the holding company of The Bank of New York and more than 80 other acquired companies.

Aside from acquisition, Bank of New York has been through a merger with New York Lie Insurance and Trust Company and more recently with Mellon Financial Corporation.

Bank of New York Mellon is a merger of two large financial institutions: Bank of New York Company and Mellon Financial Corporation. The collaboration of two large financial companies in one headquarters has led into the establishment of the leading asset management firm in the US with more than a trillion dollar worth of assets managed.

After the merger occurred in July of 2007, The Bank of New York Mellon has formed new key people with headquarters in New York City, New York, USA.

The Bank of New York Mellon is then the holding company of Bank of New York. Being a subsidiary, it has retained its financial services. However, it has added products and services such as asset management, asset servicing, and broker-dealer services. The incorporation of Mellon Financial Institution’s core businesses has strengthened the position of the company in money management industry.

The services offered by The Bank of New York Mellon can be rendered through its subsidiaries. The acquisitions of two large financial institutions have resulted to several subsidiaries in operation. These subsidiaries can be found not only in America but also in other parts of the world. The Bank of New York can be seen in different branches and representative offices in Asia, Europe, the Middle East, Oceania, Africa and South America.

Finding more about the products and services of the Bank of New York can be found in the website of The Bank of New Mellon. In this website, one can scan the different products and services that can range from accounting services, money management services and other forms of financial services. One can also acquire the recent set up of the company as well as the subsidiaries that perform the functions of financial services.

Moreover, The Bank of New York Mellon’s website can provide current and former customers of the merged company with the different The Bank of New York online services and products.

The Bank of New York does not only offer private banking. Its current set up has enabled it to offer other forms of financial products and services with the integration of modern technology.