Some of the largest U.S. banks said a proposed rule to increase the capital they hold against potential losses is arbitrary and would put them at a disadvantage against non-U.S. banks facing easier requirements.
Bank of New York Mellon Corp.’s Gerald Hassell, who started as a management trainee 38 years ago and became president in 1998, got the top job with the departure of Chief Executive Officer Robert P. Kelly.
Bank of New York Mellon Corp., the world’s largest custody bank, is in early stage talks with federal prosecutors to settle accusations the bank overcharged customers for foreign-exchange trading, according to a person briefed on the discussions.
Rajat Gupta, the former Goldman Sachs Group Inc. director once accused of feeding inside information to Galleon Group LLC’s Raj Rajaratnam, will face federal charges, a person familiar with the matter said, making him the highest-ranking executive to be named in the probe.
Bank of New York Mellon Corp., with $27.1 trillion of assets under custody and administration, said it’s helping clients pull cash from Denmark and Switzerland as the central banks take measures to stem appreciating currencies.