Bank of Nova Scotia Increases Stake in Bank of New York Mellon

Acquires 56,268 additional shares, now owns 0.10% of the bank

Mar. 16, 2026 at 7:53am

Got story updates? Submit your updates here. ›

Bank of Nova Scotia increased its holdings in shares of The Bank of New York Mellon Corporation by 8.6% during the third quarter, according to a recent 13F filing. The Canadian bank now owns 707,403 shares of the American bank, worth approximately $77 million.

Why it matters

This transaction highlights the ongoing consolidation and shifting ownership in the banking industry, as larger financial institutions like Bank of Nova Scotia look to increase their stakes in major players like Bank of New York Mellon. The move also reflects the continued attractiveness of BNY Mellon's business model and growth prospects to institutional investors.

The details

According to the 13F filing, Bank of Nova Scotia acquired an additional 56,268 shares of Bank of New York Mellon during the third quarter, bringing its total ownership to approximately 0.10% of the company. Bank of New York Mellon is one of the world's largest custody banks, providing asset servicing, clearing, and other financial infrastructure solutions to institutional clients globally.

  • Bank of Nova Scotia acquired the additional 56,268 shares during the third quarter of 2026.

The players

Bank of Nova Scotia

A Canadian multinational banking and financial services company headquartered in Toronto.

The Bank of New York Mellon Corporation

An American multinational financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial solutions to institutional clients worldwide.

Got photos? Submit your photos here. ›

The takeaway

This transaction demonstrates the continued interest and investment by major financial institutions in the custody banking business, which is seen as a stable and growing segment of the financial services industry.