The Bank of New York Mellon Corporation (2014 – Present)

The Bank of New York Mellon Corporation (“BNY Mellon”) is a leading global financial services company that provides investment management, investment services and wealth management to institutions and individuals worldwide.

Trian announced its investment in BNY Mellon in June 2014, believing there was a meaningful opportunity to reduce costs, streamline corporate structure, set measurable targets for growth investments, and enhance corporate governance.

From December 2014 to June 10, 2019, Ed Garden served on the BNY Mellon’s Board of Directors. During his tenure, Ed was the chair of the Human Resources and Compensation Committee served as a member of the Corporate Governance, Nominating and Social Responsibility Committee, the Finance Committee and the Risk Committee. Ed worked closely with BNY Mellon’s leadership team and board to help the company improve financial performance and unlock shareholder value.

Ed Garden resigned from the BNY Mellon Board to devote more time to current and future board positions. Trian remains a BNY Mellon shareholder.

Sector: Financial

Fun Fact: Founded by U.S. Founding Father Alexander Hamilton, The Bank of New York was the first corporate stock to be listed on the New York Stock Exchange in 1792

Company Website:

ESG Highlights

  • Board RefreshmentBNY Mellon has appointed 9 new directors from August 2014 through April 2019 and, absent exceptional circumstances, the company’s Corporate Governance Guidelines require rotation of the Lead Director and all Committee Chairmen at five-year intervals
  • Favorable ISS Governance Score Received a 2 on ISS’s QualityScore metric for Governance, and a 1 for Environment and Social (as of July 23, 2019), the second and highest possible score (on a scale of 1-10, best-worst)
  • ESG Index In 2018, BNY Mellon has maintained its leadership status in corporate social responsibility (CSR), appearing as the only U.S. diversified financial company on the Dow Jones Sustainability World Index (DJSI World) for the 5th consecutive year
  • Reduced Paper Use Since 2014, BNY Mellon has reduced global print volumes by 34%, and in 2017, became paper neutral in the U.S. Through 2018, the company planted 79,200 trees, which is the equivalent to the pages they printed
  • Climate Change AgendaSince 2015, BNY Mellon has been a carbon neutral company. This was accomplished by reducing traditional energy usage, utilizing renewable resources (100% renewable electricity purchased) and purchasing carbon offsets. GHG emissions reduced by 55% since 2008, exceeding its 2020 goal
  • Diversity: 34% of U.S. workforce are from diverse ethnic/racial backgrounds and 45% of U.S. work-force are women, including 28% of those at Director level or above (for calendar year 2018). Importantly, BNY Mellon has also had diversity initiatives with respect to compensation
  • Equitable Pay and Benefits As part of BNY Mellon’s commitment to equality, in 2019 the company published the results of its pay equity analysis, finding that on average, women and minority employees are paid more than 99% of what men and non-minority employees are paid. BNY Mellon is committed to ensuring its compensation practices are equitable, regardless of gender or race. Additionally, BNY Mellon announced in January 2018 that the company would use tax law savings to increase the minimum wage for all employees to $15 per hour in the U.S.

For more information on ESG initiatives at BNY Mellon, please visit

Former Trian Board Member