Announced yesterday this acquisition of Mellon to 16

Bank of New York and Mellon, two of the oldest American banks, have decided to merge to create a world leader in conservation and the service-title, two professions that benefit from the growth of financial markets in the world. The new entity, which should be named Bank of New York Mellon when the transaction will be closed normally in July 2007 will also be among the top ten of the world in asset management.

With an income of $ 12.5 billion, it will weigh more than 43 billion in the stock market, which will place the 11th ranked in the reconfigured, American banking sector over the past year by more than 267 billion in mergers and acquisitions, according to Bloomberg.

Announced yesterday, this acquisition of Mellon to 16.5 billion has been attention by Wall Street, the course of Bank of New York progressant of 9 and 4.5 at the mi-séance Mellon. "Mellon is instead recognized for its asset management, while Bank of New York has a good image in the treatment of titles, explained to Reuters analyst from RBC Capital Markets." Both institutions are complementary and could produce above-average growth if their marriage is well managed.

This merger should be felt well beyond the United States. Grow internationally, where the two banks are already a quarter of their combined income, is indeed one of the priorities of the operation. "It is abroad that are our most important reserves of growth," thus explained leaders during the presentation of the operation to the markets.

A trade in high-growth

With a total of 16.600 billion in assets, Bank of New York Mellon to rank so widely at the top of the world ranking of custodians, JPMorgan Chase, Citigroup, State Street and BNP Paribas.

Of keep the securities held by a third party, this business is less visible than the activities of commercial banks. But it also benefits from the growth of industry management. Together, two banks have seen their income grow in this activity of 13 on average over the past three years. Market service-title, an activity also brought by the growth of financial markets, Bank of New York Mellon would be number one for services to the issuers, as well as in the compensation.

Asset management should, however, be the first trade of the new set, with 29 of the total revenues. Bank of New York Mellon will handle 1,000 billion in assets, placing tenth in the world and the fifth largest in the United States.

Founded in 1784 by Alexander Hamilton, first Secretary to the Treasury, Bank of New York is launched in the conservation of titles after the second world war. She tried to buy Mellon for the first time in 1998 for $ 23 billion, without success. In the spring, Bank of New York traded its banking network against JPMorgan Chase securities services activity, to refocus on its core business.

Mellon has been founded in 1869 by the father of Andrew Mellon, which was also to become Secretary of the Treasury. Before specialize on its existing businesses, Mellon funded the development of American metallurgical industry in the early century.