The best measure of Emily Portney's success is the massive business's record revenue growth, 9% higher in 2025 over 2024, itself a record year.
Pretax income last year was even more impressive at $7.1 billion, up 21% year over year, with Q1 2026 generating $2 billion in pretax income compared to $1.5 billion last year, up 32%.
Asset servicing, BNY's largest business, has been particularly adept at implementing the commercial model strategy, previously referred to as One BNY. Launched by CEO Robin Vince in mid-2024, it presents an integrated global platform to customers. More than half its sales provide wins to other BNY businesses.
"It's the flywheel effect," said Portney. "Just about every firm customer is doing business with asset servicing, whether custody, fund accounting, ETF servicing, middle-office outsourcing or transfer agency."
Portney's financial-services experience has no doubt also played a role, including 22 years at JPMorganChase in top positions such as global head of agency clearing and collateral management. And nearly three years as BNY's CFO before moving to her current position in 2023 gave her insight into the entire firm, to identify opportunities for clients others might miss.
"That combination of financial sophistication, enterprise-wide perspective, and client orientation is unusual," said Jonathan Steinberg, CEO of WisdomTree, who has worked with Portney for five years as a client. "It makes her a particularly effective and innovative leader."
That was apparent last year when BNY captured major mandates. It inked an agreement with Allianz Global Investors to provide an integrated platform across custody, depository, fund accounting, transfer agency and middle-office functions. The agreement stretches across Allianz's activity in Germany, Luxembourg and the U.K., for registered investment vehicles as well as ETFs and alternative investments.
BNY sent numerous teams to discuss the transition, Portney said, and Allianz leaders were impressed by their alignment, illustrating the effectiveness of the commercial model cultural shift, and BNY's ongoing technology journey.
"They spent a lot of time with myself and our CTO, and part of their interest in switching to us was our innovation, mostly in AI but also digital assets," she said.
A key strength of Portney's, Steinberg said, is her keen interest in clients' goals, making sure their priorities are understood and addressed across the highest levels of the bank, including its CEO.
"Emily is the opposite of a gatekeeper," he said. "She uses her standing within BNY to create access, solve problems and strengthen partnerships."
Portney is a firm believer in communication and transparency, hosting client and employee calls during the pandemic as CFO that drew upward of 500 participants. More recently, her team anticipates her weekly "quick takes," in which she shares a coaching moment, lesson learned or worthwhile story.
