Bank of New York Mellon is adopting BNY as its new brand name, as the company aims to simplify its image in the marketplace, the oldest U.S. bank announced Tuesday.
BNY Mellon updated its logo to include a modern font and a redefined arrow in a teal color that precedes the all-capitals name. Some of the bank’s division names will be shortened to BNY Investments, BNY Wealth and BNY Pershing.
However, the company will continue to operate under its legal name, The Bank of New York Mellon Corp.
“These changes complement the company’s evolution as a leading global financial services company,” Natalie Sunderland, BNY’s global head of marketing and communications, said in a statement. “The updated brand conveys trust, resilience and innovation, and helps us align the full breadth of our offerings and capabilities under one brand, to improve familiarity with who we are and all that we do for our clients.”
The brand and logo will be deployed across the company, effective immediately, with some revisions forthcoming over the next 12 months, the bank said.
The lender has introduced new branded merchandise, such as sweatshirts, to accompany the launch and also revealed the all-capitals, three-letter name across its major offices, according to Reuters.
Established 240 years ago by Alexander Hamilton, BNY has evolved into a bank overseeing nearly $50 trillion in assets while serving clients in more than 100 markets. The bank rebranded in 2007 when the Bank of New York and Pittsburgh-based Mellon Bank merged.
“Though we have long been known as both trusted and resilient, to exist and thrive for more than two centuries has also required a continuous focus on innovation,” CEO Robin Vince wrote in a memo Tuesday, according to Reuters.
The rebranding is not an attempt to erase the firm's history or reflect a diminished commitment to its future in Pittsburgh, company representatives told the Pittsburgh Post-Gazette.
Pittsburgh is the home of an artificial intelligence hub the lender built more than two years ago.
