Bank of New York Mellon also reported $779 million in investment management and performance fee income, a 7% rise from a year ago. The company attributed the increase to "higher market value and net new business." BNY Mellon also said earnings were boosted by four cents a share from a lower-than-expected effective tax rate.
Last year, BNY Mellon cut jobs and aimed to save up to $700 million by 2015 through improved operations.
Bank of New York Mellon is the world's largest custody bank.
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