Company: BK-PK
Filing Date: 2025-03-05
Form Type: DEF 14A
Source: 0001193125-25-046216
Chunk: 67

Company: Bank of New York Mellon Corp
Filing Date: 2025-03-05
Form: DEF 14A
Chunk 67
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6.03 on record revenue of $18.6 billion with four consecutive quarters of positive operating leverage in 2024.The HRC Committee considered the following aspects of the company’s overall performance, with certain measures excluding notable items1:•Revenue Growth: Adjusted total revenue1of $18.6 billion increased 4.3% year-over-year.•Investment services fees increased 7% year-over-year, primarily driven by higher market values, net new business, and higher client activity.•Investment management and performance fees increased 3% year-over-year, primarily driven by higher market values, partially offset by the mix of AUM flows and lower performance fees.•Foreign exchange revenue increased 9% year-over-year, primarily driven by higher volumes.•Net interest income decreased 1% year-over-year, primarily driven by changes in deposit mix, partially offset by higher investment securities portfolio yields and balance sheet growth. NII year-over-year performance significantly outperformed external guidance given in January 2024.•Expense Discipline: Adjusted noninterest expenses1of $12.5 billion increased 1.4% year-over-year. Once again, the expense growth rate halved in 2024, from +3% in 2023 and +8% in 2022 on a constant currency basis.•Margin Expansion: Generated adjusted operating leverage1of 288bps and increased adjusted pre-tax margin1to 32.6%.1Excludes notable items. For a reconciliation of the non-GAAP measure to the corresponding GAAP measure, please see Annex A: Non-GAAP Reconciliations beginning on page 107.BNY 2025 PROXY STATEMENT 61

## ITEM 2. ADVISORY VOTE ON COMPENSATIONCompensation Discussion & Analysis•Earnings Per Share (“EPS”): Reported EPS of $5.80 increased 49% year-over-year. OEPS1of $6.03 increased 18.9% year-over-year.•Capital Returns: Returned $4.4 billion to common stockholders, including $1.3 billion in dividends and $3.1 billion of share repurchases for a total payout ratio of 102%.•Performance Versus Plan: The HRC Committee also considered performance relative to the company’s 2024 internal operating plan. Performance against plan was broadly consistent with the performance ratings for the measures outlined in the table above.•Relative Performance (Compared to Peers): The company’s performance compared favorably with GSIBs as well as the