Activist Client Marcato Capital Makes Headlines with its Call for Change at Bank of New York–Mellon

Firm News

In an interview with CNBC, Mick McGuire, principal of Olshan client, Marcato, argued the venerable financial institution is in need of fresh perspective and new executive talent and should replace its CEO, Gerald Hassell. Earlier that day, Marcato published a detailed presentation demonstrating that BNY–Mellon is falling behind in key areas of asset management and revenue generation. Marcato also delivered a letter to the Board stating its concerns that BNY-Mellon’s Board does not recognize the magnitude of inefficiency at the company or the opportunities to drive growth. Steve Wolosky represents Marcato in connection with its investment in BNY–Mellon.

Media Contact

Marketing Contact
Mizi Mehaj
Marketing & Administrative Manager

Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.