After announcing a decline in third-quarter earnings Thursday, Bank of New York Mellon Corp.'s chief executive said the financial services company is looking for ways to cut expenses.

Robert Kelly, the New York financial services company's CEO, said during its earnings conference call he has been working on a budget for the rest of this year and next year. "Anything that is a variable expense we are looking at closely," he said. This includes the company's head count.

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