Bank of New York Mellon said it would cut $650 million in costs over the next three years and be prepared to settle disputes involving its fees for foreign exchange transactions.

The custody bank and asset servicer said it would consolidate some locations, reduce the number of computer applications it uses and bring software development in-house.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access