Bank of New York Mellon Corp at RBC Capital Markets Global Financial Institutions Conference (Virtual) Transcript
Good morning, everyone. Thank you for joining us for our next presentation and fireside chat with the Bank of New York Mellon Corporation. I'm Gerard Cassidy here at RBC Capital Markets. We're very -- the Bank of New York Mellon participate in this year's conference. As many of you may know, it's the seventh largest bank in the United States with about $470 billion in assets, and it's true that our strength is obviously its custody business, has over $41 trillion in assets under custody and about $2.2 trillion of assets under management.
The market cap of the organization is about $40 billion. Stock trades at about 1x book value. And it has a dividend yield of just under 3%, at 2.8%; has a very strong Common Equity Tier 1 ratio at 13.1%; and the company has announced that it is -- has a buyback going on in the first quarter of about $625 million.
We're very pleased to have with us today Emily Portney. She's the Chief Financial Officer, with Mellon -- Bank of
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