On this page of StockholderLetter.com we present the latest annual shareholder letter from Bank of New York Mellon Corp — ticker symbol BK. Reading current and past BK letters to shareholders can bring important insights into the investment thesis.





011203  567859
0912233  151676670813  9
068  4567  !+,'8  -/.   6  578674       8 588  168  6   5%   9   2 5   1 575  
15   2   5    21   2   5%5   2    !     9  2    5  82      2   6 2   15   6       
-.-3  15  6  5 5765    5   6 5  2   2 7  2 92 9  76 8 27 6 2   6      285   2   
-.-/  1    6  872 9   57 27 6  5   5  57 9  75 27   5    2 5  2   4/ 3       2   
2   75 27   755  5  2   456 7       2   6    95 576 9  6  75 7  2   6 9   5   2  2   
58  4  2   -39   27   5  4567 5
012  45678  692  567   5  867  2    4  5  75  68         
   1725  2  42    6  2 7   2  6 4  6   45  2  756   5    
 8    575    72  85  6     25  6    
 5   5 5 5    72   6   596 4  6  5   2   8   4  2 7  
 75 5 588278   6   2  5  2   2   577       8 58858  
6    6     5    76    85   6  12      5   5  5 4  2   6 4  
 2  6 4   !        "      8   6 7  2  864   6  15  6   2  
  645   2 7  6    68  15    68  15   2     65   
    6  86 5   5 57      56  5   82 5  2    5  75682 8     
 5  6    6795 4  2 5765      8  28   67    67 4   2  21 9  
6  857 58  2    579578  257  85576    5 6 58    5  6   2  
6"5   6  6 695  2    5   2   5 5 674  6 #6 5   
6 75  2   2 7    8 58858    5  6   2  8 21   2 7  
   5 8   5   756    2   1 6  15   2      2   27   5      
$       276  4   67 4    5  2  21  15  2 5765     
6     67 4    5  2      76    6 278  2 7   52  5  6     
45  2  5% 57 5  5  1 6  15   2      5  68  2 5  7  4    
    5    2  6 4 
0 5   56 578     56   68   55    557  5   2  6  7588  
585    6  5 958  6     6"5   275  2    5  2  27   4  
 72  5    4  2 7     5 8  2 7    8 588  6    2 7      75 
0 285   755    98   2   5   1    2 7   5 76   72 5     
9 2 6     6   6    67"58  6     5  7 8     2 7   76    
 7565    5     57    98   27  2 7     75 
  5     276   6    2 6    8 9    6   6 5   72     
2 7  876594  127"  168   6  15  65  85576   
  8 58858   6  675   275  6"   2  6  7 5    6   6   
  6 27 8   2  6 4   0  8   5 6 5  6  9   5   27   2     
2 7  6  726    2   5  57 9     5   82   2 8  6    
2796    9  2 785 58    5  65  8675   2   5 2 5    
 275   27  2 7     5 8   4  75  69  9  21  15  8575  
5   6     2        6   2  27    58  2  7    2 7  
 2  6 4   5 57   72 9    5   59   98  2   6   
2 576 9   2 5   52   2  
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  7568 9 4  2  56  5      575  5      5   6 5  6    
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56     64  6       567   6  86 5  85   5    72   2 7  
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0 575  68   55   2  8 9 5  8  57      5(  76 57  15'5  
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2 7     5 8  7    2 7   2  6 4   5 57  6     2157  2 7  
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6     5   58 8   6  52 5    72        5'5   2   5     
2   64   5   2   6 2   6    5%5  5  696 8   6  
876594  1    6     7568 9   6 5   *  578 27 9  6      
2     8  68   55   6      76   76 8 27 6 2   68  15  65  
  7568 9 4   2 5  295 57  68  2 5  !+,   
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123  422546  789 7
 • shareholder letter icon 2/27/2025 Letter Continued (Full PDF)
 • stockholder letter icon 3/1/2023 BK Stockholder Letter
 • stockholder letter icon 2/29/2024 BK Stockholder Letter
 • stockholder letter icon More "Banking & Savings" Category Stockholder Letters
 • Benford's Law Stocks icon BK Benford's Law Stock Score = 100


BK Shareholder/Stockholder Letter Transcript:






011203  567859  

0912233  151676670813  9


068  4567  !+,'8  -/.   6  578674       8 588  168  6   5%   9   2 5   1 575  
15   2   5    21   2   5%5   2    !     9  2    5  82      2   6 2   15   6       
-.-3  15  6  5 5765    5   6 5  2   2 7  2 92 9  76 8 27 6 2   6      285   2   
-.-/  1    6  872 9   57 27 6  5   5  57 9  75 27   5    2 5  2   4/ 3       2   
2   75 27   755  5  2   456 7       2   6    95 576 9  6  75 7  2   6 9   5   2  2   
58  4  2   -39   27   5  4567 5
012  45678  692  567   5  867  2    4  5  75  68         
   1725  2  42    6  2 7   2  6 4  6   45  2  756   5    
 8    575    72  85  6     25  6    
 5   5 5 5    72   6   596 4  6  5   2   8   4  2 7  
 75 5 588278   6   2  5  2   2   577       8 58858  
6    6     5    76    85   6  12      5   5  5 4  2   6 4  
 2  6 4   !        "      8   6 7  2  864   6  15  6   2  
  645   2 7  6    68  15    68  15   2     65   
    6  86 5   5 57      56  5   82 5  2    5  75682 8     
 5  6    6795 4  2 5765      8  28   67    67 4   2  21 9  
6  857 58  2    579578  257  85576    5 6 58    5  6   2  
6"5   6  6 695  2    5   2   5 5 674  6 #6 5   
6 75  2   2 7    8 58858    5  6   2  8 21   2 7  
   5 8   5   756    2   1 6  15   2      2   27   5      
$       276  4   67 4    5  2  21  15  2 5765     
6     67 4    5  2      76    6 278  2 7   52  5  6     
45  2  5% 57 5  5  1 6  15   2      5  68  2 5  7  4    
    5    2  6 4 
0 5   56 578     56   68   55    557  5   2  6  7588  
585    6  5 958  6     6"5   275  2    5  2  27   4  
 72  5    4  2 7     5 8  2 7    8 588  6    2 7      75 
0 285   755    98   2   5   1    2 7   5 76   72 5     
9 2 6     6   6    67"58  6     5  7 8     2 7   76    
 7565    5     57    98   27  2 7     75 
  5     276   6    2 6    8 9    6   6 5   72     
2 7  876594  127"  168   6  15  65  85576   
  8 58858   6  675   275  6"   2  6  7 5    6   6   
  6 27 8   2  6 4   0  8   5 6 5  6  9   5   27   2     
2 7  6  726    2   5  57 9     5   82   2 8  6    
2796    9  2 785 58    5  65  8675   2   5 2 5    
 275   27  2 7     5 8   4  75  69  9  21  15  8575  
5   6     2        6   2  27    58  2  7    2 7  
 2  6 4   5 57   72 9    5   59   98  2   6   
2 576 9   2 5   52   2  
 5  675      5  6 2    5  127"  6 56   6        2 8  57  
 2   6 5  4   5  5 5 4  2    7297588   &      575'8  6   
  7568 9 4  2  56  5      575  5      5   6 5  6    
 557  6 2   2    5   2  6 4  1 5      5 57  2 7  2   58  
56     64  6       567   6  86 5  85   5    72   2 7  
 52  5     5 8  6     6 4  2   42   22   
0 575  68   55   2  8 9 5  8  57      5(  76 57  15'5  
 2   5   2  2 7  87659        678  )  2   5   275   27  
2 7     5 8  7    2 7   2  6 4   5 57  6     2157  2 7  
    75  56     57 5    72   2 7  567 4  876594  127"    
6     5   58 8   6  52 5    72        5'5   2   5     
2   64   5   2   6 2   6    5%5  5  696 8   6  
876594  1    6     7568 9   6 5   *  578 27 9  6      
2     8  68   55   6      76   76 8 27 6 2   68  15  65  
  7568 9 4   2 5  295 57  68  2 5  !+,   
 6    2    585   6 278   8  5885  6   2  2 7   7297588    
6    2 7     725     6   6    57 27 6  5  2   65      1     
8 675  8 5    8  2   21  15'5   2 5    8     -.-/  )  6    
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85  2 8   6   2  21   
5  15 7  
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5684940180  28C  1G51==180  41.F951  0;20  
182>=14  5=9180  25H-9490968I  5=9180  .10180968  
28C  -=093201=B  >-498144  7.6J0;?  
K;18  J1  C1E81C  6-.  40.2017BI  J1  L81J  5=9180  6>4144968  
811C1C  06  >1  5180.2=  06  6-.  MNO?  P9F18  0;1  93D6.0280  .6=1  
J1  D=2B  98  0;1  7=6>2=  E828592=  4B4013I  J1  ;2F1  =687  ;2C  0;1  
D.9F9=171  28C  .14D6849>9=90B  6A  J6.L987  J90;  2  49789E5280  
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76F1.831804I  984-.2851  D.6F9C1.4  28C  36.1?  @;141  5=91804  
6A018  01==  -4  0;20  0;1B  0.-40  -4  9331841=BI  J;95;  94  1F9C180  98  
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0;94  24  6-.  >977140  6DD6.0-890B  A6.  7.6J0;I  28C  6-.  F2=-1  
D.6D6490968  94  493D=1S  K90;  98C-40.BT=12C987  D64909684  25.644  
3640  6A  6-.  >-498144  =9814I  6-.  D=20A6.34  182>=1  -4  06    
4-DD6.0  5=91804  24  2  563D.1;1849F1  46=-09684  D.6F9C1.?    
56789       6     7    68    7
012 032 042

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