BNY

Advancements aimed at speeding the flow of information by eliminating manual processing are helping the global custody bank attract new clients and win more business from existing ones, fueling revenue growth and improving efficiency.

Why choose a former Visa chief to run a custody bank? Because to survive long term, Bank of New York Mellon will have to look more and more like a payments company.

A recently announced partnership with Nasdaq is one of multiple investments Citi has made in ventures related to distributed ledger technology, its chief financial officer said Tuesday.

Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks.

JPMorgan Chase’s Colleen Briggs and Fiona Greig are among those working on ways to help a growing segment of consumers with wildly fluctuating incomes. Plus, the women of Wells Fargo’s board and a big promotion at Citi.

The custody bank also won $109 billion worth of new asset-servicing business in the quarter, which pushed assets under custody to over $30 trillion.

She will be joined on the board by Ronald Sargent, a retired chairman and CEO of the office-supply company Staples.

A 9% increase in interest revenue helped to offset relatively flat growth in fee revenue.

The issue stemmed from how the company handled collateralized-loan obligations for calculating capital ratios.

Bank of New York Mellon has created a dedicated innovation group for launching new technologies in its treasury services unit.