BNY Mellon, a global financial firm with ties to Pittsburgh, is rebranding and losing the “Mellon” part of its logo.
The New York-based bank announced Tuesday it is updating its logo and simplifying its company umbrella brand to BNY, according to a press release.
It may seem like an erasure of Pittsburgh’s role in the bank — Bank of New York merged with the Pittsburgh-based Mellon Financial Corporation in 2007. But the company’s parent name will remain The Bank of New York Mellon Corp. and Pittsburgh-based officials at the company ensure the region that Pittsburgh will remain an important part of the company.
Eric Boughner, chairman of BNY Mellon Pennsylvania, said Pittsburgh remains the largest U.S. job center for the company, and BNY is looking to expand in Southwestern Pennsylvania.
“The DNA of Mellon is a part of our history and will continue to be a big part moving forward,” Boughner said.
The change to BNY is meant to consolidate its brands, including changing BNY Mellon Wealth Management to BNY Investments and BNY Wealth. BNY Mellon Pershing will become BNY Pershing, according to a release.
BNY is one the world’s largest banks with $50 trillion in assets on behalf of clients in more than 100 markets.
Although Mellon remains part of the parent company name, the rebrand inflicts a slight hit to the iconic Mellon legacy.
T. Mellon & Sons’ Bank was founded in Pittsburgh in 1870 by Thomas Mellon and his sons, Andrew and Richard B. Mellon. It became a financial powerhouse during Pittsburgh’s economic heyday, playing a funding role in several iconic Pittsburgh companies, including Alcoa, Gulf Oil, Westinghouse, U.S. Steel and Heinz.
Even so, the Mellon name will remain an integral part of Pittsburgh’s skyline.
Boughner said the BNY Mellon Center at 500 Grant St. will maintain its “BNY Mellon” signage on top of the 725-foot skyscraper.
Boughner said the company is committed to Downtown Pittsburgh and is in the midst of a multimillion-dollar remodel of its building at 500 Ross St. Improvements include a new roof deck, fitness center and a coffee shop. The Ross Street building will see some signage changes, said Boughner.
“Pittsburgh is a great place to do business,” Boughner said. “We continue to grow here because it is a great place.”
BNY Mellon Pennsylvania President Mike Keslar noted the Pittsburgh office recently hired 300 interns and has had a close and growing relationship with Carnegie Mellon University to hire talent for artificial intelligence initiatives.
“Pittsburgh will continue to be a strategic location and will significantly contribute to the future engineering innovations at BNY,” Keslar said. “The logo change does not take away from any of those plans.”
BNY employs 50,000 across the globe. Domestically, it operates offices in 18 states and Washington, D.C. It’s unclear how many work in Pittsburgh. Boughner said the company does not disclose regional employee figures, but said the Pittsburgh region employs more than any other U.S. region.
The BNY rebrand and logo change take effect immediately.
Ryan Deto is a TribLive reporter covering politics, Pittsburgh and Allegheny County news. A native of California’s Bay Area, he joined the Trib in 2022 after spending more than six years covering Pittsburgh at the Pittsburgh City Paper, including serving as managing editor. He can be reached at rdeto@triblive.com.