Bank of New York Mellon (BK -2.2%) reportedly has canceled the sale of its Alcentra Unit, which...

|About: The Bank of New York Mellon... (BK)|By:, SA News Editor

Bank of New York Mellon (BK -2.2%) reportedly has canceled the sale of its Alcentra Unit, which handles $17B in loans and high yield bonds. The bank previously hired Credit Suisse to manage the sale, which also happens to manage a majority of assets of the world’s largest custody bank.