Northern Trust will continue to become independent amid the merger talks with BNY Melon
Northern Trust has announced plans to remain an independent company following reports of a potential merger with New York Mellon Bank (BNY).
A spokesman for the group, reported by Bloomberg, said: “Our policy is not to comment on market rumors, but we can communicate that Northern Trust remains independent and is fully committed to continuing to provide long-term value to stakeholders.”
The statement comes after a report of discussion between the CEOs of the two financial institutions.
The consultation does not include any specific offers and BNY is considering the next steps.
The Chicago-based company has a market value of over $21 billion and is one of the world’s largest custodian banks.
BNY, which has surged in stocks by more than 50% over the past year, has a market capitalization of over $65 billion.
Mergers between the two companies could create a great investment management powerhouse that oversees 3tn or more.
Northern Trust and BNY provide services such as asset services, money management and back-office solutions for investment companies.
In the first quarter of 2025, Northern Trust reported net profit of $392 million, up significantly from $224.7 million in the previous year’s quarter.
The company’s total revenue (FTE) reached $1.94 billion, an 18% increase from $1.65 billion in the first quarter of 2024.
The company also reported assets growth under Management/Management (AUC/A) and managed assets (AUM).
As of March 31, 2025, Northern Trust’s total AUC/A was 16.924TN, an increase of 3% from the previous year.
This growth was driven by a 3% increase in both the Asset Services and Asset Management segment.
The total assets in detention are 13.269tn, with the Asset Services segment accounting for this figure of 12.163tn.
Additionally, the total AUM rose to $1.607tn, showing a 7% increase compared to the previous year. Aum’s services rose 7% to 1.160 tonnes, while asset management AUM rose 6% to $446.9 billion.
“Northern Trust will remain independent in the merger talks with BNY Melon” was originally created and published Private Bunker Internationala brand owned by GlobalData.
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