Report on the recent performance of Bank of New York Mellon Essay

Report on the recent performance of Bank of New York Mellon - Essay Example The banking entity is also one of the largest asset managers in the world managing USD 1 trillion of assets in its business. The bank of New York Mellon has an employee base of around 50,000 working in more than 100 markets throughout the globe. The Bank provides global financial services for corporations, institutions as well as the high net worth clients. The main functions of the bank are servicing and managing the financial assets of the customers. The banking corporation provides excellent asset management, wealth management, treasury services, asset management and services and clearing services. The Bank of New York Mellon Corporation is the first bank in the United States of America which joined Society for Worldwide Interbank Financial Telecommunication (SWIFT) in 2007. The Bank is also a member of the Clearing House Interbank Payment system (CHIPS). The BNY Mellon Corporation has two subsidiaries operating under its business- The Mellon Capital Management and BNY Mellon Asse t Management which are used for providing the asset management and wealth management services to the institutional investors. The wealth management business of BNY Mellon Corporation is dedicated towards the high net worth investors and foundations. The paper aims to focus on the wealth management or the private banking services of BNY Mellon. The wealth management of BNY Mellon offers world class capabilities customised for all types of clients across the world. The services offered to the clients include investment management, servicing of assets and information management, planning of wealth and estate as well as private banking. The client base of the bank includes families and individuals, endowments and foundations, institutions as well as professionals. Discussion The main industrial characteristics of the market The global banking industry is characterized by most of the financial institutions struggling towards growth and implementation of change programs while managing the costs in the changing global scenario. The largest banks of the work banks are implementing evaluated restructuring programs to cut down on the costs while increasing the profitability of the business. The industry is dominated by rapid growing markets and unpredictable changes thus making flexibility and adaptability the key secrets to survive in the evolving global banking industry. The industry shows a number of conflicting challenges and demands for the banks and presents an uncertain and volatile industry landscape. Unfortunately, they had anticipated a much more benign economic environment in which to adapt to the paradigm shift in the banking landscape. Now banks face a near-perfect storm of challenges and conflicting demands in a volatile and uncertain environment, locally and globally. The economic slowdown throughout the world is varying across the different geographical sectors and the Governments continue to take strong steps towards stimulating economic growth. The glo bal banking industry has a sustained growth rate but at a decreased magnitude (Cap Gemini Consulting, 2012, p.3). The main issues impacting the private banking and wealth management industry are with respect to then external environment of the industry, the

Personal masters learning and development Essay - 1

Personal masters learning and development - Essay Example Nevertheless, I did log on to the website on my friend’s recommendation and browsed through the different pages. I was particularly keen to know how the course would help me further my goals in life. I was amazed to see my friend mature into a balanced individual with his own thoughts and perceptions. Academically he had achieved certain heights and he had developed social skills as well. I too am a good communicator and perhaps this University would help me develop my skills further. I browed through the different courses and modules on offer, and well it did frighten me a little initially. I was not too sure whether I could handle it but then, being an optimist, I decided to take up the challenge. To do something in life one has to take certain amount of risks. Moreover, higher the risk, higher the returns, is what we have heard. Besides, the economic downturn has impact all nations and one has to invest in education. This is the right time to do so, I felt. I browsed through some other University sites also but since I had very strong recommendations for this University, I decided to enroll myself here. What particularly impressed me about the University was that it had stude nts from a wide range of backgrounds. This meant that I could interact with people from different backgrounds and cultures, so essential for global management and international management today. Studying a Masters Degree is the only route to an established career. I too realized this and since I had set high goals for myself in the field of management, I knew a Masters Degree was essential. My objective in pursuing a Master’s Degree is to obtain a full time position in the field of accounting that uses my technical, analytical and interpersonal skills, with an employer that provides a challenging work environment and opportunities for advancement. I have done my undergraduate studies in the field of accounting and have practical experience working with several contracting