Activist Hedge Funds Pick on BNY Mellon

BNY Mellon has capitulated and awarded a board seat to activist hedge fund Trian Fund Management LP. The bank wants to avoid, what could be a long, drawn out proxy battle with the hedge fund. As of September 30, 2014, according to SEC data, Trian owns a 2.57% stake in BNY Mellon. To accommodate the activist fund, BNY Mellon has augmented the board to 14 members, adding Edward P. Garden to the board. Garden is co-founder and chief investment officer of Trian Fund Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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