NEW YORK - The Bank of New York Mellon Corporation (NYSE: NYSE:BK), known as BNY, announced today the appointment of Rajashree Datta as its new Deputy Chief Risk Officer. The announcement comes as BNY's stock trades near its 52-week high of $82.72, having delivered an impressive 70% return over the past year according to InvestingPro data. Ms. Datta is set to join the company on December 15 and will become a member of the Executive Committee. She is expected to succeed Senthil Kumar as BNY's Chief Risk Officer in 2025 after a transition period.
Ms. Datta's selection comes as part of BNY's ongoing commitment to maintaining robust risk management practices. Robin Vince, President and CEO of BNY, expressed confidence in Datta's expertise in developing strong risk frameworks, emphasizing the importance of resilience in the financial sector.
Rajashree Datta brings a wealth of experience from Goldman Sachs, where she served as Partner and Global Head of Finance Risk. Her responsibilities included overseeing Liquidity, Capital, and Accrual Rate Risks. Datta's tenure at Goldman Sachs is noted for her leadership in risk management, aligning business needs with risk appetite and regulatory requirements.
Datta's career in finance began at Goldman Sachs in Investment Banking in 2000 after she graduated from Amherst College with a BA in Economics and Political Science.
BNY, a global financial services company, plays a significant role in managing, moving, and safeguarding money. The company boasts a long history of partnering with clients, including over 90% of Fortune 100 companies and nearly all the top 100 banks worldwide. As of September 30, 2024, BNY manages $52.1 trillion in assets under custody and/or administration and $2.1 trillion in assets under management. InvestingPro analysis shows BNY has maintained dividend payments for 54 consecutive years, with a current market capitalization of $59.3 billion. According to InvestingPro's Fair Value model, the stock currently appears to be trading near its fair value. For deeper insights into BNY's financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
The information in this article is based on a press release statement.
In other recent news, Bank of New York Mellon (BNY Mellon) has reported a significant 22% year-over-year increase in earnings per share, reaching $1.50, and a 5% rise in total revenue, totaling $4.6 billion. The bank has also issued $750 million in aggregate principal amount of 5.225% Fixed Rate / Floating Rate Callable Senior Medium-Term Notes Series J, due in 2035, as part of their broader capital and liquidity management strategy. The bank's acquisition of Archer Holdco, LLC, a technology-driven managed account solutions provider, is expected to enhance its service offerings. Morgan Stanley (NYSE:MS) has maintained its Equalweight rating on BNY Mellon but raised the stock's price target to $82 from $80, following discussions with the company's CEO, Robin Vince. Analyst firms Deutsche Bank (ETR:DBKGn), Barclays (LON:BARC), and Citi have also adjusted their price targets for BNY Mellon, reflecting its strong financial performance. BNY Mellon's management revised their Net Interest Income (NII) forecast for 2024 upwards, predicting a 5% year-over-year decrease. The bank is also expected to achieve positive operating leverage in 2025, benefiting from strong fee performance and a commitment to controlling expenses. BNY Mellon has established a dedicated hub with several hundred employees, demonstrating a commitment to AI investment. However, Citi's analysis suggests that these positive projections are already reflected in the current stock price, maintaining its Neutral rating. These are recent developments that investors should be aware of.
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