BNY Mellon, Northern Trust Explore $3 Trillion Merger

Bank of New York Mellon (BNY) has entered into preliminary merger discussions with Northern Trust, aiming to potentially form a leading investment-management firm overseeing more than $3 trillion in assets. The CEOs of both companies have held at least one conversation, but no formal offer or specific merger terms have been set, and the outcome remains uncertain. Recent strong financial performance has been reported by both banks, with BNY's revenues and net income rising and Northern Trust's market value increasing. Favorable signals from the Trump administration and the FDIC have improved the regulatory outlook for large bank mergers. News of the talks drove up share prices for both institutions and raised expectations about increased institutional involvement in crypto custody and financial technology. The potential merger could reshape asset servicing and wealth management in the U.S. financial sector.