Jump to gfi forex international shipping Jump to search For predecessor company, see Mellon Financial. The Bank of New York Mellon Corporation, which does business as BNY Mellon, is an American worldwide banking and financial services holding company headquartered in New York City. The Walton Mansion housed the Bank of New York from 1784 to 1787. The first bank in the U.
Alexander Hamilton, Thomas Jefferson and Benjamin Franklin were among its founding shareholders. Bank of North America paid, and months of local discussion culminated in a June 1784 meeting at a coffee house on St. Its first offices were in the old Walton Mansion in New York City. The bank provided the United States government its first loan in 1789. The Bank of New York was the first company to be traded on the New York Stock Exchange when it first opened in 1792. In 1796, the bank moved to a location at the corner of Wall Street and Williams Street.
Bank of New York and Hamilton vigorously opposed its founding. During the 1800s, the bank was known for its conservative lending practices that allowed it to weather financial crises. It was involved in the funding of the Morris and Erie canals, and steamboat companies. Through the early 1900s, the Bank of New York continued to expand and prosper. In July 1922, the bank merged with the New York Life Insurance and Trust Company. In 1988, the Bank of New York merged with Irving Bank Corporation after a year-long hostile take over bid by Bank of New York. Irving had been headquartered at 1 Wall Street and after the merger, this became the headquarters of the Bank of New York.
From 1993 to 1998, the bank made 33 acquisitions, including acquiring JP Morgan’s Global Custody Business in 1995. Ivy Asset Management was acquired in 2000, and the bank acquired Pershing LLC, the United States’ second-largest trade clearinghouse, in 2003. In 2005, the bank settled a US federal investigation that began in 1996 concerning money laundering related to post-Soviet privatization in Russia. 7 billion via hundreds of wires. In 2006, the Bank of New York traded its retail banking and regional middle-market businesses for J.
The deal signaled the bank’s exit from retail banking. Mellon Financial was founded as T. Sons’ Bank in Pittsburgh, Pennsylvania, in 1869 by retired judge Thomas Mellon and his sons Andrew W. Sons’ name was changed to the Mellon National Bank.