Our next guest joins us now.
Say hello to Dermott McDonogh, the CFO at BNY.
What a historic listed company down here on the trading floor of the New York Stock Exchange.
BNY, the NYSE, go all the way back to 1792.
You rang the closing bell.
I'm really grateful for your time.
Thanks for joining us today.
Yes, look, it's quite a historic day.
As I was walking in earlier, you see the big flag outside here from the start, which really It is for our firm 242 years old, a very, very historic day, and for many people in the firm who are here with us today, quite an emotional day.
We had several people down here who have worked at the firm for more than 50 years.
So to ring the closing bell, have the stock close at an all-time high as 13898, I think, or 99 nailed it to the number.
It's just.
Really, really brilliant and important day for us.
Why are we here?
We're here because we changed the ticker to BNY from BK.
We had the opportunity to pick up the ticker of BNY.
We rebranded the firm a couple of years ago, and that's how we show up to the world as BNY, modern, resilient, trust, innovative.
That's how we want to be in the world, and we had the opportunity with the NRC to change the ticker today, so.
Really happy to see that and how appropriately so, because all of us who are fans of history, we've worked at the New York Stock Exchange for a long time.
That's how we refer to the bank.
We call it BNY.
So all the more exciting.
You're wrapping up a huge 3 year transformation.
Talk to me about the things that have changed inside the institution.
What does that look like given that it is well over 200 years old?
Look, we've put a great team together at BNY under Robin's leadership, chairman and CEO who's here with us today.
And you're seeing the results in this year.
Q1 was a record earnings, record sales, record pre-tax income, and a 46% EPS growth year over year.
So a lot of good things happening inside the firm.
We have three strategic pillars be more for clients, run our company better, power our culture.
But really it's the power our culture that's making the difference and 4.
1000 employees around the world aligning under Robin and the leadership's team drive.
And so far year to date, you've really knocked the cover off the ball.
Q1 2026, your strongest quarter yet.
What is driving the specific momentum for the bank inside this particular market environment?
So actually I think it's how we show up for clients.
In the earnings call we had a couple of real highlights, but notable was our partnership with the administration on Trump accounts, real privilege to represent and be part of that, going live on July 4th celebrating America's 250th.
And so it's a real privilege as America's oldest bank to partner with the government on something as important. as that.
Yes, talk to us a little bit more about the Trump accounts.
I feel like maybe it's something a lot of our viewers have seen the headlines of, might not know all the specifics.
What most excites you about it aligning with the 250th anniversary and really BNY's role in that process.
So it's really giving, I would say, the kids of today a stake in the future of America tomorrow, and it's babies born this year are getting $1000.
To invest so that when they come of age and want to go to college, they've built a little nest egg and so at that time the money grows over time and it shows for America, who wants a stake in the future of the country, how to save and how to build a nest egg to invest in their own future.
And as if all of that weren't enough, continues to land some major institutional deals.
What does that say about the success and the momentum of the underlying business right now?
I would say I've been at the firm a little bit over 3 years.
I feel like I've been here a lifetime.
I love every minute of what I do with the team.
We've built a great team together, uh, employee first culture, really kind of working for everybody, working for our clients, and that really feels like there's tremendous momentum in the.
Before I let you go, what most excites you about representing such an iconic brand, arguably one of the most important historic brands associated with the New York Stock Exchange itself?
One of the things that attracted me to the firm really is the sense of history, its place in America, its place at the heart of America's financial ecosystem.
And the opportunity to push it on and help it to grow and to be better for our clients and shareholders.
Founded by Alexander Hamilton.
That's a pretty cool legacy for you to help carry on.
Yes, I feel very proud and privileged.
Dermot McDonogh, CFO at BNY, congratulations.
Thanks a lot for joining us.
Thank you.
Really good to have you.
