Business TransformationThe franchise is still in the early to middle innings of a transformation that has the potential to drive better than expected growth and profitability.
Operating Model TransitionManagement outlined expectations for 100% of the firm transitioning to its 'Platforms Operating Model' by next year, which should deliver revenue/expense synergies and drive an improved level of franchise profitability over the medium to long term.
Positive Operating LeverageBNY Mellon delivered a strong beat driven by NII, paired with upbeat guidance signaling another year of positive operating leverage ahead.