Posts from ‘January, 2009’

The market meltdown saw 22 banks outright fail, but through it all, several major banks stood tall, and perhaps none taller than BNY Mellon. The bank ended the third quarter of 2008 with a profit of more than $300 million, despite a write-off of more than twice that sum — while other financial institutions posted huge losses. In its modest way, the legal department takes some of the credit. How did the in-house team help keep the bank afloat when others were flailing and failing?