Bank of New York Mellon (BNY) has approached Northern Trust about a potential merger, according to sources familiar with the matter. While no formal offer has been made, the two CEOs have held at least one discussion. The merger would combine two major asset-servicing firms, creating a financial powerhouse overseeing over $3 trillion. BNY, with a market cap above $65 billion, has seen strong stock performance under CEO Robin Vince, who took over in 2022. Northern Trust, valued at over $21 billion, has also seen share gains this year. A deal would signal a renewed appetite for large banking mergers, supported by a more permissive regulatory stance under the Trump administration. However, it remains uncertain whether talks will progress.
