Mellon, BONY Deal Expected to Spur More Mergers

The merger between Mellon Financial and the Bank of New York is likely to spur additional mergers and acquisitions, analysts tell Reuters.

“The likelihood that State Street Corp. and Northern Trust Corp. will do something has now been heightened,” said Richard Bove, an analyst with Punk Ziegel. In addition, JPMorgan Chase and Citigroup may also eye deals, Bove said.

In fact, some believe that Mellon and BONY will be looking over their shoulders, and as other firms bulk up through M&As, Mellon and BONY may make additional acquisitions.