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Investing.com -- Northern Trust (NASDAQ:NTRS) has stated its commitment to remaining independent after a report indicated Bank of New York Mellon (NYSE:BK) had expressed interest in a potential merger.
"I can tell you that Northern Trust is fully committed to remaining independent and continuing to deliver long-term value to our stakeholders, as we have for the past 135 years," a Northern Trust spokesperson said in an email on Monday, according to Reuters.
The statement came in response to a Wall Street Journal report that revealed Bank of New York Mellon Corp had recently approached Northern Trust to express interest in merging with the smaller asset and wealth manager.
The report of BNY Mellon’s interest in Northern Trust suggests potential movement in the financial services sector, though Northern Trust’s response indicates the company plans to maintain its standalone status.
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