Shareholders of Bank of New York and Mellon Financial have overwhelmingly approved the proposed merger of the two companies.
The deal, which was announced in December, remains on schedule for an expected closing early in the third quarter of 2007, subject to receipt of regulatory approvals.
The new company, which will be called The Bank of New York Mellon Corporation, will be among the world’s leading securities servicers, with assets under custody and administration expected to exceed US$18 trillion, and a leading global corporate trustee, with assets under trusteeship anticipated to be more than $8 trillion.
It also will rank among the top 10 global asset managers with assets under management exceeding $1 trillion.
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