The Bank of New York Mellon Corporation (NYSE:BK) Q2 2024 Earnings Call Transcript July 12, 2024 9:30 AM ET

Company Participants

Marius Merz - Head of IR
Robin Vince - President and CEO
Dermot McDonogh - CFO

Conference Call Participants

Ken Usdin - Jefferies
Glenn Schorr - Evercore ISI
Ebrahim Poonawala - Bank of America
Steven Chubak - Wolfe Research
Brennan Hawken - UBS
Betsy Graseck - Morgan Stanley
Mike Mayo - Wells Fargo Securities
Alex Blostein - Goldman Sachs
Gerard Cassidy - RBC
Brian Bedell - Deutsche Bank
Rajiv Bhatia - Morningstar

Operator

Good morning and welcome to the 2024 Second Quarter Earnings Conference Call hosted by BNY. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please note that this conference call and webcast will be recorded and will consist of copyrighted material. You may not record or rebroadcast these materials without BNY's consent. I will now turn the call over to Marius Merz, BNY Head of Investor Relations. Please go ahead.

Marius Merz

Thank you, Operator. Good morning, everyone, and thank you for joining us. I'm here with Robin Vince, President and Chief Executive Officer, and Dermot McDonogh, our Chief Financial Officer. As always, we will reference our financial highlights presentation, which can be found on the Investor Relations page of our website at bny.com.

And I'll note that our remarks will contain forward-looking statements and non-GAAP measures. Actual results may differ materially from those projected in the forward-looking statements. Information about these statements and non-GAAP measures are available in the earnings press release, financial supplement, and financial highlights presentation, all available on the Investor Relations page of our website. Forward-looking statements made on this call speak only as of today, July 12, 2024, and will not be updated.

With that, I will turn it over to Robin.

Robin Vince

Thanks, Marius. Good morning, everyone, and thank you for joining us. Before Dermot reviews the financials in greater detail, I'd like to start with a few remarks about our progress in the quarter. In short, we delivered another quarter of improved financial performance with positive operating leverage on the back of solid fee growth and continued expense discipline. And we continued to make tangible progress on our path to be more for our clients, to run our company better, and to power our culture.

Last month, we celebrated our company's 240th anniversary with our people and many of our clients. Even with this rich history of operating across four centuries, I believe that our best days remain ahead of us. That bank with around $0.5 million of capital in 1784 today oversees roughly $50 trillion in assets and powers platforms across payments, security, settlement, wealth, investments, collateral, trading, and more for clients in over 100 markets around the world. As the world changes and global financial markets evolve, so do we.