BNY Mellon and State Street have warned of "challenging" conditions with their results.
BNY Mellon has reported 2011 fourth quarter earnings of USD505m compared to USD679m for the previous year.
Restructuring costs and challenging conditions in financial markets were blamed for the results but the BNY had still managed to reduce operating costs.
Gerald Hassell, chairman, president and chief executive officer of BNY Mellon,...