Our History

       
Managing wealth since America began creating it.

From our founding by Alexander Hamilton to our position today as one of the nation's largest wealth managers, BNY Mellon has always been an innovative thought leader in the world financial picture. Let us work with you to protect and grow your financial future.

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1784

A group of prominent New York citizens, led by Alexander Hamilton, launch THE BANK OF NEW YORK, the company's earliest predecessor organization.

1789

Alexander Hamilton becomes the first U.S. Secretary of the Treasury.

The Bank of New York provides the first loan ever made to the U.S. government, in the amount of $200,000.

1792

The Bank of New York becomes the first corporate stock traded on the New York Stock Exchange.

1804

The Bank of New York becomes depositary for what is believed to be the nation's first trust, established to provide for Alexander Hamilton's family after his death in the duel with Aaron Burr.

1832

The Bank of New York begins to manage funds for its private clients.

1837

The U.S. Government mandates a one-year moratorium on dividends. It would be the only year in its history that The Bank of New York did not pay a dividend. The company compensated by doubling the dividend the next year.

1869

Retired Judge Thomas Mellon and his sons, Andrew W. and Richard B., found T. MELLON & SONS' BANK in Pittsburgh.

1882

Andrew W. Mellon becomes president of T. Mellon & Sons' Bank upon his father's retirement.

1902

The T. Mellon & Sons' Bank joins the national banking system as MELLON NATIONAL BANK.

1904

Mellon forms its foreign bureau to provide banking services for customer activity outside the United States.

1921

Andrew W. Mellon becomes U.S. Secretary of the Treasury.

Richard B. Mellon assumes the presidency of Mellon National Bank.

1922

The Bank of New York merges with the NEW YORK LIFE INSURANCE COMPANY, leading to the introduction of trust and custody services.

1929

Richard B. Mellon forms MELLBANK CORPORATION, a bank holding company for many western Pennsylvania banks, which together survive the economic crises that followed the stock market crash.

1946

Mellon merges with the UNION TRUST COMPANY to become Mellon National Bank and Trust Company.

1955

Mellon becomes one of the first banks in the nation to acquire and install its own computer.

1958

The Bank of New York's global expansion begins with the establishment of an office in Hong Kong.

1971

To serve the needs of the Mellon family, Mellon creates a dedicated family office business, the first of its kind in the United States.

1983

Mellon completes its acquisition of Philadelphia–based THE GIRARD COMPANY, including Girard Bank and Girard Bank Delaware.

1988

The Bank of New York merges with IRVING TRUST, creating scale and a position of leadership in securities servicing.

1993

Mellon acquires THE BOSTON COMPANY, strengthening its position as a leading provider of asset management, private banking and asset servicing.

1994

Mellon completes its landmark merger with THE DREYFUS CORPORATION, propelling Mellon to a leadership position as the largest bank manager of mutual funds.

1995

The Bank of New York acquires J. P. MORGAN'S GLOBAL CUSTODY BUSINESS, expanding its reach internationally.

1997

Mellon expands its wealth management presence in the South Florida market with the acquistion of GANZ CAPITAL MANAGEMENT, INC.

1998

Mellon acquires FOUNDERS ASSET MANAGEMENT, LLC, a manager of growth–oriented equity mutual funds and other investment portfolios.

Mellon acquires a majority interest in NEWTON MANAGEMENT, headquartered in London, U.K.

Mellon and Netherlands–based ABN AMRO BANK N.V. join forces to provide global custody services worldwide.

1999

Mellon Bank Corporation changes its name to MELLON FINANCIAL CORPORATION to more accurately reflect its shift in strategic focus.

2000

Mellon agrees to an early purchase of the remaining 25 percent of Newton Management Limited (U.K.).

Mellon opens a new wealth management office in Denver, Colorado.

Mellon acquires VAN DEVENTER AND HOCH, an asset management firm in Glendale, California.

2001

Mellon acquires a 15 percent equity interest in leading hedge fund sponsor OPTIMA FUND MANAGEMENT, a strategic alliance formed in 2000.

Mellon acquires STANDISH, AYER & WOOD, a Boston-based provider of investment management services to institutional clients and high net worth individuals.

2002

Mellon expands its wealth management presence in Ohio by acquiring WEBER FULTON & FELMAN, a Cleveland–based investment management firm.

2003

The Bank of New York acquires PERSHING, becoming the largest provider of correspondent clearing.

Mellon combines three fixed-income subsidiaries—CERTUS ASSET ADVISORS, MELLON BOND ASSOCIATES AND STANDISH MELLON ASSET MANAGEMENT—under Standish Mellon Asset Management, becoming one of the largest managers of fixed income assets in United States.

Mellon acquires THE ARDEN GROUP, establishing its wealth management presence in the Atlanta market.

2004

Mellon acquires EACM ADVISORS, strengthening its hedge fund capabilities.

Mellon acquires the remaining 70 percent of PARETO PARTNERS' currency management business.

Mellon further broadens its wealth management business by acquiring SAFECO TRUST COMPANY of Seattle; PARAGON ASSET MANAGEMENT of Las Vegas; and THE PROVIDENCE GROUP INVESTMENT ADVISORY COMPANY of Providence, Rhode Island.

2005

Mellon completes its acquisition of CITY CAPITAL, INC., further expanding its commitment to serving private clients in the Atlanta market.

2006

The Bank of New York acquires URDANG CAPITAL MANAGEMENT, specializing in real estate investment management.

The Bank of New York acquires ALCENTRA GROUP LIMITED, an asset management group which invests in sub-investment grade debt.

Mellon acquires U.S. TRUST'S PLANNED GIVING SERVICES group.

Mellon purchases WALTER SCOTT & PARTNERS, an Edinburgh, Scotland-based equity investment firm.

Mellon expands its Family Office Services to the United Kingdom. Based in London, this is the first overseas site for Mellon's wealth management business.

Mellon and The Bank of New York Company, Inc. enter into a definitive agreement to merge, creating the largest securities servicing and asset management firm globally.

2007

The Bank of New York Company, Inc. and Mellon Financial Corporation merge on July 1.

2008

BNY Mellon opens its West Hartford wealth management office capitalizing on the growing wealth market in northern Connecticut.

2009

BNY Mellon opens its first wealth management office in Dallas, Texas.

2010

BNY Mellon completes purchase of I3 WEALTH ADVISORS of Toronto; the company's wealth management entree to the Canadian market.

BNY Mellon establishes new wealth management headquarters in Miami to accommodate its growth in the Southeast.

2011

BNY Mellon completes the acquisition of wealth management operations of TALON ASSET MANAGEMENT extending its presence into the Chicago market, the third largest wealth market in the U.S.

2012

I3 Wealth Advisors of Toronto changes its name to BNY MELLON WEALTH MANAGEMENT ADVISORY SERVICES and launches a new Web site bnymellonwealthadvisory.ca.

2013

BNY Mellon announces a major expansion that will increase its sales force by 50% while also adding portfolio managers, private bankers and wealth strategists to support its market share growth.

BNY Mellon becomes "Official Investments Company" of the San Francisco 49ers, beginning a 10-year partnership with the team and Levi's Stadium®.

2014

BNY Mellon Wealth Management named Top U.S. Private Bank and Top Private Bank Serving Family Offices.

BNY Mellon opens new Wealth Management office to serve San Diego County.

 
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