In case you missed it, Yahoo finance posted a very interesting article regarding some of BONY's ugly history. It talks about one of the longest most hostile takeovers in American history, the merger of BONY and Irving Trust. That merger allowed the Bank of New York to acquire 1 Wall Street as well as a large book of business with soviet banks. The article is an excerpt from "The Compatriots" which talks about BONY's involvement in a huge Soviet money laundering scandal back in 1998. Its an interesting excerpt because it paints the picture of long and how deep the corruption at BONY has been. If you were ever to get the chance to talk to a legacy Mellon employee, (if you can find one) you would quickly be told that the merger between BONY and Mellon back in 2007 was a hostile takeover. Mellon was the fiscally responsible institution. BONY was not. BONY merged with Mellon to save its butt and its business because they were in trouble with toxic assets from the sub prime mortgage crisis. After the merger to form BNY Mellon was completed, BONY became the controlling company which proceeded to pile drive BNY Mellon straight into the ground.
https://finance.yahoo.com/news/compatriots-book-russia-money-laundering-soldatov-140030610.html