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In a recent shareholder meeting, The Bank of New York Mellon Corporation (NYSE:BK), which has delivered an impressive 45% return over the past year and maintains a modest P/E ratio of 13, concluded several key decisions, including the election of directors and approval of executive compensation. The annual meeting, held on Tuesday, resulted in the election of 11 directors, whose terms will expire at the end of the 2026 annual meeting.
The elected directors are Linda Z. Cook, Joseph J. Echevarria, M. Amy Gilliland, Jeffrey A. Goldstein, K. Guru Gowrappan, Ralph Izzo, Sandra E. "Sandie" O’Connor, Elizabeth E. Robinson, Rakefet Russak-Aminoach, Robin Vince, and Alfred W. "Al" Zollar. Each director secured a majority of votes cast, with the number of votes against and abstentions varying across the nominees.
Additionally, the shareholders approved, on an advisory basis, the compensation of the company’s named executive officers for the year 2024. The approval reflects shareholder satisfaction with the executive compensation strategy and performance alignment.
Furthermore, the appointment of KPMG LLP as BNY Mellon’s independent registered public accountants for the fiscal year ending December 31, 2025, was ratified, indicating continued trust in the firm’s auditing services.
The outcomes of these proposals, which were detailed in BNY Mellon’s definitive proxy statement filed on March 5, 2025, suggest confidence in the current management and strategic direction of the company. According to InvestingPro analysis, BNY Mellon appears undervalued at current levels, with additional insights available in the comprehensive Pro Research Report, one of 1,400+ detailed company analyses available to subscribers. The information presented here is based on a press release statement.
In other recent news, Bank of New York Mellon reported first-quarter 2025 earnings per share of $1.58, surpassing analysts’ expectations of $1.51. The company also exceeded revenue forecasts, achieving $4.79 billion against a predicted $4.76 billion, marking a 6% year-over-year increase. JPMorgan maintained its Overweight rating on the company, citing an improved operating margin of 32.4% and a strong performance in its Markets and Wealth Services segment. However, challenges persist in the Investment and Wealth Management segment, with a notable decrease in operating margin to 8% from 13% the previous year.
Meanwhile, Graphex Group announced the distribution of proceeds from a rights issue to its American Depository Shares holders. The Bank of New York Mellon Corporation’s shareholders approved all management proposals, including the election of 11 directors and the ratification of KPMG LLP as the independent registered public accountants. The company also launched a new AI platform named "Eliza" to enhance its technological capabilities. These developments reflect ongoing strategic initiatives and governance measures within both companies.
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