BNY Mellon to take Q4 hit from Shareowner Services sale

Source: BNY Mellon

BNY Mellon, the global leader in investment management and investment servicing, announced today that it has completed the previously announced sale of its Shareowner Services business to Computershare.

Computershare is a global provider of transfer agency, share registration, employee equity plans, proxy solicitation, stake holder communications, and other diversified financial and governance services.

The transaction resulted in a modest after-tax loss to be reflected in BNY Mellon's results for the fourth quarter of 2011 due to the impact of non-deductible goodwill associated with the business. The transaction further enhances BNY Mellon's strong capital ratios, generating more than $200 million in additional capital and adding approximately 20 basis points to BNY Mellon's Basel III Tier 1 common equity ratio.

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