Peltz takes stake in BNY Mellon


Having exited his holdings in State Street (STT +0.2%) late last year, Nelson Peltz has set his sights on Bank of New York Mellon (BK +3.8%), with his Trian Fund Management disclosing a 9.33M share stake in the company.

Partly in response to pressure from Peltz, State Street is perceived to have been more aggressive than Mellon Bank in cutting costs, selling off non-core units, and in prioritizing capital returns over acquisitions. The stocks of the two companies, however, are each up about the same amount since Peltz began pushing for change at State Street in late 2011.

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Comments (3)
  • jstratt
    , contributor
    Comments (3981) | Send Message
     
    I dont think Peltz has enough capital to make much of a difference. His stake is less than 1%.

     

    What he does have is an influential analyst articulating a plan that could engage large institutional holders in the process.
    30 Jun 2014, 07:31 PM Reply Like
  • Matt McCullin
    , contributor
    Comments (77) | Send Message
     
    He is up to 2.5% now, as I understand it. That's getting significant.
    30 Jun 2014, 11:22 PM Reply Like
  • PChan444
    , contributor
    Comments (514) | Send Message
     
    Nelson is disgusting
    30 Jun 2014, 07:40 PM Reply Like
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