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18

BNY Mellon CEO: Bank Embraced Criticism From Activist Investors

By Tony Seruga

Cost-cutting program has improved profitability, CEO says
U.S. Federal Reserve should raise benchmark rates soon

Bank of New York Mellon Corp.’s cost-cutting program has been effective and activist investors are appreciating measures taken to improve profitability, according to Chief Executive Officer Gerald Hassell.

“The active investors have now seen those improvements pull through our earnings, and our stock price has been reflecting it,” Hassell said in an interview with Bloomberg Television’s Haslinda Amin in Singapore on Saturday. “The trick is to embrace the criticism, adopt a program to really improve your company structurally and sustainably and show your investors that you can do it.”…

BNY Mellon CEO: Bank Embraced Criticism From Activist Investors

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