BNY Mellon chairman, president and chief executive officer Gerald Hassell said the bank enjoyed solid sequential growth in investment management and services fees, as it benefited from new business wins and improved equity values.
"We are seeing the early results of our operational excellence initiatives as we generated significant positive operating leverage relative to the fourth quarter," Hassell said.
"The results reflect the strength of our business model, the excellent quality of our balance sheet and our continuing ability to return capital to our shareholders while maintaining a very strong capital position."
As of 31 March 2012, the assets under custody and administration amounted to a record $26.6 trillion with an increase of 4% versus the previous fiscal and 3% sequentially.
The banks said that its investment services fees summed up to $1.6bn fall 4% during the same period last year and an increase of 3%sequentially.
Investment management and performance fees declined 2% to $745m during the latest quarter compared to the same quarter last year and an increase of 2% sequentially.
For the latest quarter period, its foreign exchange and other trading revenue touched $191m against $198m in the first quarter of 2011 and $228m in the fourth quarter of 2011.
Investment and other income rose to $139m from $81m in the first quarter of 2011 and $146m in the fourth quarter of 2011, reflecting higher leasing and seed capital gains.
