Activist investor Nelson Peltz has upped his stake in the Bank of New York Mellon Corp., the world’s largest custody bank, to 2.5 percent, reported The New York Times.
Trian Fund Management LP, a hedge fund cofounded by Peltz, announced in a statement that it has contacted Mellon with the aim of discussing “ideas and initiatives to drive long-term growth and enhance shareholder value,” Bloomberg News reported.
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