Alexis Leondis

Bank of New York Mellon Corp., the world’s largest custody bank, reported that second-quarter profit rose 79% as the stock-market rally boosted assets and fees for overseeing them.

Bond managers from DoubleLine Capital LP’s Jeffrey Gundlach to Pacific Investment Management Co.’s Bill Gross are telling investors the worst may be over for Treasury bonds after 10-year yields rose to a 22-month high.

PNC Financial Services Group Inc., the second-largest U.S. regional bank, faces the same decision on its 21 percent stake in BlackRock Inc. that confronts many individual investors: sell or hold?

BlackRock Inc. hired Gary Shedlin as chief financial officer to replace Ann Marie Petach, who will move to a client-oriented role within the firm.

“I don’t believe you’re going to get some sort of an early warning,” Gundlach said. “You should be moving now.”

BlackRock Inc., the world’s largest exchange-traded fund provider, has an “edge” over State Street Corp. in buying Credit Suisse Group AG’s ETF business, according to Citigroup Inc. analysts.