Lender of New York has consistently been amount one or two in the US with assets less than custody in excess of $35 trillion. Despite the fact that they are not a spread lender, small interest fees have impacted funds stability returns. In the past fiscal disaster in 2009 the US govt parked their funds with Lender of New York. They have historically earned in excess of 15% on tangible equity while maintaining a strong stability sheet with a CET1 ratio of eleven.five%. Berkshire Hathaway has been a new purchaser of Lender of New York Mellon and now owns somewhere around nine% of the business.
From Jeff Auxier (Trades, Portfolio)’s Auxier Asset Administration spring 2020 sector commentary.