The Bank of New York Mellon Co. is a financial holding company, providing investment servicing (like asset servicing, issuer services, clearing services) and investment management services to institutional investors, which includes mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers, around the world.

FORBES: BNY Mellon Ripe For A Run Above $40 If Managed Assets Grow Faster

All three are now deeply motivated to focus on their securities servicing and asset management divisions.

FORBES: Custody Battle Heats Up

By shedding retail, Renyi would be taking a step that two other so-called processing banks have made in recent years to concentrate their businesses on securities servicing and asset management.

FORBES: Ready, Set, Sell