B.N.Y. Mellon Living Up to Committments Execs Say

Three years ago, when Mellon Bank merged with the Bank of New York, the company promised to retain a strong local presence. The financial giant guaranteed job growth and charitable contributions to its 11-county service region in southwestern Pennsylvania. CEO Bob Kelly told those present at today's annual shareholder's meeting the group is fulfilling those promises. He says the company had about 6,000 employees at the time of the merger in 2006, and now has 6,857 workers in the Pittsburgh region. BNY Mellon has also created two charitable foundations and pledged over $4.8 million to over 350 local charities.

Of course much of the discussion at the meeting focused on recovery amidst the struggling economy, but Kelly's outlook was rather optimistic as he guaranteed, "We will get through." Last fall, BNY Mellon received $3 billion in government TARP funds. Kelly says the company is nearly ready to repay that money.

B.N.Y. Mellon is a supporter of DUQ's Signature Circle.