Chris Rycroft via flickr
The bank executives have engaged in discussions, yet no concrete proposals have been addressed.
A source knowledgeable about the situation stated that Northern Trust is dismissing the notion of a deal.
The merger would form a massive asset servicing entity overseeing over $3 trillion in assets. Northern Trust, located in Chicago, boasts a market capitalization exceeding $21 billion. BNY Mellon and Northern Trust, the top depository bank, focus on services for institutional investors: asset custody, wealth management, and backend operations.
BNY Mellon is contemplating additional actions, such as a formal proposal, yet the agreement might not materialize.
source: wsj.com
A source knowledgeable about the situation stated that Northern Trust is dismissing the notion of a deal.
The merger would form a massive asset servicing entity overseeing over $3 trillion in assets. Northern Trust, located in Chicago, boasts a market capitalization exceeding $21 billion. BNY Mellon and Northern Trust, the top depository bank, focus on services for institutional investors: asset custody, wealth management, and backend operations.
BNY Mellon is contemplating additional actions, such as a formal proposal, yet the agreement might not materialize.
source: wsj.com